Villar Group’s AllHome, AllDay chains post strong H1 growth

Villar Group’s supermarket and home improvement chains saw strong top-line and bottom-line growth in the first half of 2023 on the back of a recovery in consumer spending during the period.

AllDay Supermarket reported revenues of P4.90 billion, up 6.6% year-on-year.
This brought the supermarket chain’s net income to P172 million, far higher than the P12 million earnings seen in the same period in 2022.

"We are pleased with AllDay’s steady business results for the first half of 2023," said AllDay chairman Manuel Villar Jr.

"With the return of customers to in-person retail or revenge retail giving rise to many opportunities, our supermarket concept continues to capitalize on a market that is getting a lot more comfortable with spending time shopping in-store again," he added.

Meanwhile, Villar Group’s home improvement retail chain AllHome saw its net income grow by 99.1% to P442 million during the first half of the year.

In the second quarter alone, AllHome posted P3.117 billion in revenues, up 3% year-on-year.

"Our second quarter 2023 performance is a reminder of AllHome’s capability to quickly adapt to shifting consumer spending, and we expect to sustain this energy as we move towards the second half of the year," said Villar.

"As we head into the historically strong quarters of AllHome and a positive 2024 outlook that sees a rise in condominium turnovers—which means entry into the furnishing stage—we view the balance year of 2023 with much confidence and optimism," he said.

"We are looking at every angle to maximize revenue potential for the chain, and I am pleased that our initiatives to strengthen AllHome’s leadership, operations, and efficiencies are bearing fruit," he added.

AllHome ended June 2023 with total assets of P27.044 billion. — VBL, GMA Integrated News