Ultra bilyonaryo Manny Villar’s listed companies enjoyed strong profitability in the first nine months of the year due to continued healthy topline growth.
The mid-premium grocery chain, AllDay Supermarket, reported a 154 percent surge in earnings during the nine-month period, reaching P254 million.
This growth is attributed to intensified cost-saving initiatives and a 5.2 percent year-on-year increase in revenues, totaling P7.43 billion.
Villar is optimistic that AllDay will finish the year strong, noting that the fourth quarter is historically robust for the company.
“This upcoming holiday season will be very similar to pre-pandemic levels. Movement and travel restrictions have been lifted here and abroad, and OFWs are coming home again to spend time with their loved ones.
With this season of celebrations, our supermarket concept is ready to capitalize on a market that is now comfortable with spending time shopping in-store,” he said.
Villar’s one-stop full-line home center, AllHome, also posted a 46 percent jump in net income at P582 million, with revenue hitting P8.8 billion.
Besides an expected strong last quarter of 2023 for AllHome, Villar said the company is also seeing a positive outlook for 2024.
“We are confident in the performance of our soft categories, as this shows that new homeowners are now entering the furnishing stage, and we see this further picking up to close out 2023. This uptick in AllHome’s soft categories also coincides with a holiday season where travel and movement restrictions from the pandemic are gone, and OFWs will be coming home to their families, which bodes well for AllHome,” he said.
Earnings of Villar’s real estate investment trust, VistaREIT Inc., soared by 808 percent to P13.89 billion from January to September.
Higher rental income, parking fees, and administrative fees charged to tenants brought revenues to P2.01 billion, up 15 percent year-on-year.
The profit of the memorial park development firm, Golden MV Holdings, also ended the first nine months of the year on a positive note, rising by nine percent to P1.14 billion.
This increase came on the back of a six percent improvement in revenues, totaling P3.97 billion, primarily attributable to higher real estate sales, interment income, and income from chapel services.