Metro Retail net income soars 45.7% in first half

CEBU, Philippines — Cebu-based Metro Retail Stores Group, Inc. (MRSGI) posted a 45.7 percent rise in first-half 2025 net income to P146.3 million, propelled by strong second-quarter results.

Net income in the April–June period more than doubled to P132.9 million from P50.1 million a year earlier, driven by store expansion and improved gross margins.

Second-quarter net sales rose 6.6 percent year-on-year to P9.9 billion, supported by new supermarket openings, bringing first-half sales to P18.8 billion, up 4.4 percent.

Same-store sales returned to growth in the second quarter, rising 1.7 percent after a 1.7 percent decline in the first quarter.

Food retail revenue grew 2.8 percent in the first six months, led by fresh produce and contributions from recently opened supermarkets.

General merchandise sales rose 8.8 percent, buoyed by back-to-school demand and home product sales. Blended gross margin improved to 21.8 percent from 20.7 percent in 2024, with gains across both segments.

Operating expenses climbed to 21.4 percent of sales from 20.3 percent reflecting higher utility costs in theVisayas and increased labor expenses. EBITDA for the first half rose 27 percent to P1.01 billion.

The company opened five new supermarkets during the period—in Talisay City and Liloan in Cebu, Ligao City and Guinobatan in Albay, and Gubat, Sorsogon—expanding its network to 76 stores.

MRSGI was also named to the Fortune Southeast Asia 500 for the second consecutive year.

“Our strong second-quarter results, highlighted by net income that more than doubled and EBITDA up 47 percent demonstrate our strategic execution and focus on profitability,” said president and COO Joselito G. Orense.

“The recovery in same-store sales and margin growth provide a solid foundation for the remainder of the year, despite higher operating costs,” he added.