Villar-led AllDay Marts Inc. recorded an 80% growth in its 2021 bottom line, with the company on track to meet its 100-store target by 2026.
AllDay said its unaudited net income jumped to P394.9 million, while sales climbed by 19% to P9.46 billion from P7.93 billion. Its earnings before interest, taxes, depreciation, and amortization also improved to 9.1% from 7.9%.
“With fresh funds available to us by way of our successful IPO last November 3, 2021, we are put in a much stronger financial position as we can move forward with minimal debt load,” CEO Frances Rosalie Coloma said in a regulatory filing.
“This, in turn, allows us to fully focus on our capacities towards our store network expansion,” she added, with the company having 35 stores as of January 2022.
AllDay debuted on the Philippine Stock Exchange in November 2021, with its P4.5-billion initial public offering oversubscribed with shares priced at P0.60 apiece.
“As we ride the tail end of the pandemic on this high note, we are increasingly confident as we continue to bring AllDay to even more locations across the country,” Coloma said.
AllDay operates an in-store and e-commerce platform with some 2,600 local and international product brands under three main categories: fresh items, food items, and non-food items.
It also offers a personal shopper service, allowing customers to send their orders through dedicated hotlines which will then be delivered direct to their homes.
Shares in AllDay closed Wednesday up 2 centavos or 4.44% to 47 centavos apiece versus Tuesday’s finish of 45 centavos. — BM, GMA News
Villar”s AllDay Marts sees 80% growth in 2021 net income
Source: News Panda Philippines
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