METRO Retail Stores Group Inc. (MRSGI) reported a 19.6-percent drop in its nine-month net income to P204.7 million from last year's P254.6 million, said to be due to higher non-cash charges related to its expansion program.
"The results of our first nine months with sustained cash earnings reflect the company's resilience as we navigate the evolving retail landscape," MRSGI President and Chief Operating Officer Manuel Alberto said.
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