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Villar companies post positive results in Q1

VILLAR-LED COMPANIES AllHome Corp. and AllDay Marts, Inc. turned in profits in the first quarter of this year to reverse the previous year’s net loss, while their affiliate Golden MV Holdings, Inc. recorded higher earnings during the period.

In separate regulatory filings, the three companies reported a positive bottom line despite one of them recording lower revenues during the quarter.

AllHome booked a net income of P212.28 million in the first quarter, turning around from a P27.91-million net loss the previous year. Its top line during the quarter fell by 9.9% to P2.92 billion from P3.24 billion because of a shift in consumer spending — to travel, leisure, food, and entertainment — to address pent-up demand during the pandemic.

“Our [first quarter] shows signs hallmarks of the key strengths of AllHome. Our soft categories — where we have a clear advantage — continue to generate the lion’s share of our revenue,” AllHome President Benjamarie Therese N. Serrano said in a statement on Tuesday.

AllHome offers products for home improvement and construction.

Supermarket operator AllDay reported a first-quarter net profit of P88.57 million, a reversal of the P75.58-million net loss reported in the same period last year. Its sales went up by 6.6% to P2.44 billion from P2.29 billion mainly due to the sales growth of existing stores and the revenue contribution of new stores.

“Our first-quarter performance in 2023 is pleasing in the regard that we have validation of our capability to sustain exceptional results driven by the extraordinary behaviors and circumstances of the pandemic,” AllDay President and Chief Executive Officer Frances Rosalie T. Coloma said in a separate statement.

“Now that the country has returned to normal, we look to our now 36 locations across the country and the many operational opportunities we can harness to deliver efficiency, and ultimately value, to our stakeholders,” Ms. Coloma added.

Meanwhile, property developer Golden MV posted a 10.5% jump in net income during the first quarter to P473.04 million from P428.18 million in the same period last year, driven by higher revenues.

Its top line in the three-month period rose 3.9% to P1.61 billion from P1.55 billion in the prior year, mainly after an increase in real estate sales during the period.

Real estate sales increased by 4.7% to P1.55 billion from P1.48 billion on the back of sales growth for both residential units and memorial lots.

Also on Tuesday, Vistamalls, Inc. reported an attributable net income of P1.42 billion during the first quarter, up 13.6% from P1.25 million the previous year.

Its top line for the period inched up by 0.8% to P2.65 billion from P2.63. Vistamalls has units that operate and develop mass market retail malls. Rental revenues rose 12.2% to P2.57 billion from P2.29 billion previously. The increase was mainly due to “higher occupancy and the increase in rates for the period including the upside from the higher sales of variable rental-based tenants.”

During the first quarter, a new mall, Vista Mall Davao, was opened and contributed to the rise in revenues.

The four companies are all chaired by billionaire Manuel B. Villar, Jr. — Adrian H. Halili

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