AllDay earnings up 33% on better margins
The listed supermarket business of billionaire Manuel Villar Jr. saw recurring income rise in the first quarter of the year on better margins and higher sales across its stores.
In a statement on Tuesday, AllDay Marts Inc. said core profit during the period hit P95 million as revenues increased 7.4 percent to P2.3 billion.
Villar, chair of AllDay, said the results indicated “strong operating fundamentals across the chain.”
“It is a strong start to 2022, and we are confident in navigating the country’s continued recovery from the pandemic,” he said in the statement.
The profit boost was aided by improved margins. AllDay recorded a gross profit of P467 million, up 10.2 percent, during the first quarter.
Gross profit margins thus went up to 20.4 percent during the period, said Camille Villar, the company’s vice chair.
AllDay benefited from its “value-based pricing strategy” for international products and a recently launched line of private label goods to increase profitability.
Article continues after this advertisement“AllDay’s maiden quarter after our [initial public offering] last December validates our implementation of our blueprint: an innovative and elevated in-store and online experience at par with the best in the world,” she said.
Article continues after this advertisement“We are confident that the continuous fine-tuning of AllDay’s in-store and e-commerce journeys will translate to even more customers discovering and patronizing the unique AllDay experience,” Villar added.
AllDay ended the quarter with 35 stores. These were located in Bataan, Pampanga, Libis, Shaw, Taguig, Las Piñas, Molino, Kawit, Sta. Rosa, Alabang, C5 Extension, Doña
Manuela-Las Piñas, Iloilo, Naga, General Trias, Tanza, Evia Lifestyle Center, Malolos, Dasmariñas, Nomo, Imus, Salawag, Silang, Starmall Annex-Las Piñas, Cabanatuan,
Sta. Maria, Santiago, Isabela, Talisay, Cauayan, Bacolod, Sto. Tomas-Batangas, Eastlake-Muntinlupa and the Worldwide Corporate Center in Mandaluyong.
According to the company’s CEO, Frances Rosalie Coloma, they remained on track to reach 100 stores by 2026.
