AllHome Corp. and AllDay Marts Inc., two of the Villar Group’s listed companies, returned to profitability in the first quarter of the year.
AllHome said in a disclosure to the stock exchange Tuesday it booked a first-quarter net income of P212 million, a turnaround from the P27.9-million net loss it reported in the same period last year despite lower revenues.
First-quarter revenues fell 9.6 percent to P2.9 billion from P3.23 billion on slowdown of renovation and home improvement spending in favor of travel. “Our Q12023 performance still reflects that challenges from our FY 2022: weakened sales attributable to a clear shift in consumer spending. Travel, leisure and entertainment continue to take precedence as they were suppressed during the heavy quarantine periods and long periods of pandemic circumstances,” said AllHome president and chief executive Benjamin Therese Serrano.
AllDay, which operates a supermarket chain, said it booked a first-quarter net income of P88.6 million, a reversal from the P75.6-million net loss it recorded a year ago. Store revenues climbed 6.5 percent to P2.44 billion from P2.29 billion. Jenniffer B. Austria
