VILLAR-led AllHome Corp. reported on Tuesday an attributable net income of P229.85 million for the second quarter, down 8.1% from P250.02 million in the same period last year, as expenses increased.
In a stock exchange disclosure on Monday, the company posted a 3% increase in revenues to P3.12 billion from P3.03 billion a year earlier.
However, gross expenses rose by 3.8% to P2.75 billion from P2.65 billion previously.
“Our [second quarter 2023] performance is a reminder of AllHome’s capability to quickly adapt to shifting consumer spending, and we expect to sustain this energy as we move towards the second half of the year,” said AllHome Chairman Manuel B. Villar, Jr. in a media release.
“As we head into the historically strong quarters of AllHome and a positive 2024 outlook that sees a rise in condominium turnovers — which means entry into the furnishing stage — we view the balance year of 2023 with much confidence and optimism,” he added.
In the first half of the year, AllHome’s attributable income almost doubled to P442.13 million from P222.11 million in the previous year.
The company’s revenues fell by 3.6% to P6.04 billion from P6.27 billion in the same period last year.
Sales transactions with individual and corporate customers amounted to P6 billion, which is lower compared with the P6.3 billion posted last year.
Cost and expenses declined by 2.5% to P5.34 billion from P5.49 billion in the previous year.
“We are at looking at every angle to maximize revenue potential for the chain, and I am pleased that our initiatives to strengthen AllHome’s leadership, operations and efficiencies are bearing fruit,” Mr. Villar said.
In a separate disclosure, the Villars’ AllDay Marts, Inc. saw its second-quarter attributable net income drop by 4.4% to P83.40 million from P87.21 million in the same period last year.
During the quarter, the company posted a 6.8% increase in revenues to P2.46 billion from P2.30 billion previously.
It attributed the rise of sales revenues from the transactions with individual and corporate customers amounting to P4.9 billion as of June 30, higher than the P4.6 billion recorded last year.
Likewise, gross expenses climbed nearly 7% to P2.37 billion from P2.22 billion in the previous year.
Meanwhile, the company’s first-half attributable income reached P171.97 million, a significant rise from P11.63 million a year earlier.
Revenues increased by 6.6% to P4.90 billion during the first half from P4.59 billion previously.
“We are pleased with AllDay’s steady business results for the first half of 2023,” Mr. Villar said.
“With the return of customers to in-person retail or revenge retail giving rise to many opportunities, our supermarket concept continues to capitalize on a market that is getting a lot more comfortable with spending time shopping in-store again,” he added.
The company’s gross expenses also grew by 7.2% to P4.71 billion from P4.40 billion in the same period in 2022.
On Tuesday, AllHome shares fell by 2.41% to P1.62 each, while those of AllDay 0.56% to P0.177 apiece. — Sheldeen Joy Talavera
