AllDay earnings more than double
ALLDAY Marts, Inc. reported a net income of P254 million, 154% higher year on year, boosted by higher revenues for the period.
“As we head into the fourth quarter — a historically strong quarter for AllDay — we are pleased with our business results at the 9M2023 mark of this year,” AllDay Chairman Manuel B. Villar, Jr. said in a media release on Tuesday.
The listed supermarket operator saw its revenues climb to P7.43 billion, marking a 5.2% increase from the same period last year.
The company has yet to release its financial statement for the period but it previously reported an attributable net income of P83.4 billion for the second quarter, 4.4% lower from the P87.21 billion last year.
Mr. Villar said that as the holiday season approaches amid the lifting of restrictions due to the pandemic, the company expects further growth.
“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,” he said.
“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,” said Frances Rosalie T. Coloma, AllDay president and chief executive officer.
At the local bourse on Tuesday, shares in the company closed 1.17% lower at 17 centavos each. — Ashley Erika O. Jose
