RRHI said it had a strong net cash position to support the new share buyback program.
RRHI saw a 25.2-percent drop in attributable net profit to P2.93 billion last year. While its grocery business performed well, mandatory lockdown protocols dragged down sales of stores catering to discretionary consumer items.Blended same store sales declined by 8.9 percent for full year 2020 as RRHI’s nonessential formats were closed for eight weeks. The supermarket segment, classified as essential business and thus exempted from COVID-19-related lockdown, grew by 7.7 percent.
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