Merger gains fade

The Gokongwei Group’s Robinsons Retail Holdings Inc. (RRHI) reported a 66.9-percent plunge in attributable net income to P2.3 billion in the first half of the year, mainly due to the onetime gain from the Bank of the Philippine Islands (BPI)-Robinsons Bank merger booked in early 2024.

- By JAMES A. LOVOLA

In a disclosure to the Philippine Stock Exchange (PSE), the firm stated that attributable net income declined 13.2 percent to P1.5 billion in the second quarter of 2025, primarily due to higher equitized losses from minority investments and an increase in interest expenses resulting from increased borrowings.

Core earnings for the second quarter climbed 3.9 percent year-on-year to P1.5 billion, driven by strong revenue growth and improved operating efficiencies. For the first semester of 2025, core earnings stood at P2.8 billion, up 4.3 percent from last year.