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MANILA, May 12 -- Listed firm Metro Retail Stores Group, Inc. (MRSGI) has reported surge in its net income by 82 percent to PHP96 million in January to March 2017 from the same period in 2016.

"We were able to carry the strong bottom line momentum in the fourth quarter of 2016 to the first quarter of 2017," said MRSGI Chairman and CEO Frank Gaisano.

“We have had consistent growth in our overall sales and same stores sales in the last four of five quarters. While we are focused on both sales and net income, we continue to see faster improvement in the productivity of our sales as evidenced by the faster growing net income,” he added.

All stores sales grew 4.7 percent to PHP1.46 billion in Q1 2017.

"We will continue to ramp up various sales, margin and operational initiatives to allow us to better serve our expanding market and optimize the returns on our sales," the executive said.

Last April 28, MRSGI opened its 51st store in Mandaue City, Cebu – the Metro Supermarket Canduman.

MRSGI President and Chief Operating Officer Arthur Emmanuel noted that the new store in Cebu solidifies the firm’s dominance in Visayas.

For Cebu alone, MRSGI has 25 retail operations.

It has also presence in Central, Western, and Eastern Visayas, as well as in Central Luzon, South Luzon, and Metro Manila.

"This store, as with all our branches, tells the commitment and the strength of Metro and Metro associates to give quality products at very affordable prices, and also to provide the best customer service and shopping experience for everyone," Emmanuel said. (KMC/PNA)