Allday swings to profitability as revenues hit ₧2.44B in Q1
Allday Marts Inc., the Villarled operator of Allday Supermarket, said it recorded a net income of P88.57 million in the first quarter, a reversal of the previous year’s net loss of P75.57 million.
Allday said its revenues rose by 6 percent to P2.44 billion from the previous year’s P2.29 billion.
“Allday’s performance in the first quarter continues to validate our strategy and concept of a truly world-class and elevated supermarket experience that we have brought to more Filipinos throughout the country,” Allday Chairman Manuel
B. Villar Jr. said.
“We look forward to the rest of 2023 as we continue to finetune and deploy the Allday blueprint, reaching even more Filipinos in our communities of operation.”
Allday President and CEO Frances Rosalie T. Coloma said the company is focused on the supermarket chain’s operational efficiencies as a potential driver to further sustain its performance in adapting to shifting consumer behavior.
“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,” she said.
“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.”
Allday Supermarket ended the quarter with total assets of P9.18 billion, total liabilities of P2.49 billion and a shareholder’s equity of P6.69 billion.
The company recorded fire losses in 2022 when its store outlet in Alabang, Muntinlupa was severely damaged by fire.
As a result, the company wroteoff certain inventories and property and equipment with the net carrying value amounting to P58 million and P112.2 million, respectively.
“Thus, the total losses from fire amounted to P170.5 million, not taking into account the insurance claims which were received in the latter part of 2022.”