AllDay profit jumps by 50% in H1


AllDay Marts Inc., a supermarket chain led by the Villar Group, said it ended the first semester with a profit of P179.6 million, some 50 percent higher than the previous year’s P114 million.

Sales rose 19 percent to P4.49 billion for the period from last year’s P3.75 billion, the company said.

“AllDay’s stellar performance thus far is another milestone in its consistent performance since its incorporation. We believe this is irrefutable proof of concept for our elevated supermarket experience,” said Manuel B. Villar Jr, chairman of AllValue Holdings Corp., the parent company of AllDay.

“Our consistent year-on-year growth since 2017 show that our world-class stores, brought even closer to established communities resonate with the upgraded tastes and purchasing power of the Filipino people at large.”

The company said it saw a 13-fold increase in income since its incorporation in December 2016. From a net income of P17 million in 2017, the AllDay supermarket chain generated P220 million in net income for 2020. That translates to a compounded annual growth rate of 134 percent.

The AllDay supermarket store network now stands at 33 locations nationwide with a solid expansion pipeline, the company said.

Camille A. Villar, AllValue president, said the company is pushing for the digital transformation of the supermarket chain.

“We are confident in our ability to post even better results moving forward,” she said.

The Villar Group is planning to list AllDay later this year. Villar said the company hopes to raise between P5 billion to P6 billion for the initial public offering of the supermarket brand.

“It won’t be as big as AllHome. We already kicked off with the IPO [initial public offering]. The value of the company is about P25 billion to P30 billion.”

AllHome Corp. is the company’s listed retailer.

He said the company’s convenience store under the same AllDay brand may not be included in the IPO as it is keen on a pureplay entity.

Read full article on BusinessMirror

Leave a Reply