Home Top News AllDay Marts income rises 22.4%

AllDay Marts income rises 22.4%

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AllDay Supermarket

VILLAR-LED AllDay Marts, Inc. saw a 22.4% growth in its net income last year to P369 million from P302 million in 2022.

Revenue surged 4.4% to P10.19 billion in 2023 from P9.76 billion in 2022, AllDay Marts said in a statement on Monday.

AllDay Marts operates AllDay Supermarket and caters to the mid-premium segment.

The company’s gross profit increased by 3% to P2.06 billion, while earnings before interest, taxes, depreciation, and amortization grew by 10.3 % to P995 million.

“AllDay was successful in growing its business in 2023 and has taken clear strides to elevate the supermarket experience for the Filipino. We believe our performance reflects this in 2023,” AllDay Chairman Manuel B. Villar, Jr. said.

“With a market still clearly hungry for experiences in the country’s full return to normalcy, our supermarket concept is still well-received,” he added.

AllDay said it bolstered the company’s position in the premium supermarket market through improvements in importation.

“Aside from our constant thrust to innovate on AllDay’s in-store experience, we take heed of our market’s preference for experiences and flavors they experience abroad. I am confident in saying AllDay’s range offering carries a much stronger imported selection, which strengthens our overall elevated supermarket experience,” AllDay Vice-Chairperson Camille A. Villar said.

AllDay Supermarket’s President and Chief Executive Officer Frances Rosalie T. Coloma said the company previously opened four new minimart locations, including Camella East and Ponticelli in Bacoor, Maia Alta in Antipolo, and along Governor’s Drive in Dasmariñas.

In a separate statement, AllHome Corp. said it recorded a net profit of P797 million in 2023, down by 15% from P934 million in 2022, as consumer spending shifted away from home retail.

Net revenue reached P12.06 billion, while gross profit margins rose to 38% in 2023 from P36.8% in 2022.

“Though current consumer spending has been diverted from home retail to less essential expenses like fashion, health and beauty, entertainment, and travel, AllHome remains committed in delivering value to our stakeholders,” AllHome President and Chief Executive Officer Benjamarie Therese N. Serrano said.

“We have steadily increased our margins, both in gross and net terms, ending 2023 with a gross margin of 38%. We also continue to seek out operational efficiencies, especially as we face unusually high inflation and increased utilities costs,” she added.

Ms. Serrano remains upbeat about AllHome’s performance moving forward, citing a Euromonitor 2023 report that projects the country’s home retail sector to have a compound annual growth rate of 6.2% from 2024 to 2028.

“The long-term fundamentals of the home retail sector in the Philippines remain sound, and we look to take advantage of this with AllHome reclaiming its position as a premium home retailer that enjoys the unique synergy of self-sustaining retail ecosystems, buoyed by synergies with Vista Land, the country’s largest home builder, as well as with its sister companies under the AllValue umbrella,” she said.

On Monday, AllDay shares rose by 3.08% or P0.004 to P0.134 per share while AllHome stocks dropped by 1.01% or one centavo to 98 centavos apiece. — Revin Mikhael D. Ochave

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