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Villar’s AllDay Supermarket’s profit surges 154%

Richest Filipino Manuel B. Villar’s AllDay Supermarket, the country’s leading mid-premium supermarket chain, reported a 154 percent surge in net income to P254 million in the first nine months of the year.

In a disclosure to the Philippine Stock Exchange, the firm said this came on the back of a 5.2 percent improvement in revenues to P7.43 billion for the first nine months of 2023 while EBITDA grewing 11 percent to P693 million from P625 million.

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AllDay Chairman Manuel B. Villar Jr.

“As we head into the fourth quarter—a historically strong quarter for AllDay—we are pleased with our business results at the first nine months mark of this year,” said AllDay Chairman Manuel B. Villar Jr.

He noted that, “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 again very comfortable with spending time shopping in-store,” Villar added.

AllDay Supermarket President and CEO Frances Rosalie T. Coloma cited the supermarket chain’s topline growth as well as intensified cost-saving initiatives as instrumental to sustaining AllDay’s performance as the chain enters the fourth quarter.

“Despite normalizing sales levels and inflationary pressures evident throughout 2023, we are happy to report continued momentum for AllDay as we head into the last quarter of 2023,” she said

Coloma added that, “As we enter the holidays, our primary focus will be in delighting our customers, identifying cost efficiencies in our operations and improving on the touchpoints of our elevated grocery shopping experience.”

“We remain confident in our management team and our inherent abilities to provide our customers continuously improving AllDay experience,” Coloma noted.

Credit belongs to : www.mb.com.ph

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