Villar-led companies post lower income

THREE Villar-led companies — Golden MV Holdings, Inc., AllHome Corp., and AllDay Marts, Inc. — reported lower earnings in the second quarter as their revenues declined.

Golden MV posted a lower attributable net income of P259.35 million in the second quarter, down 6.5% from last year’s P277.41 million. This is a 39.4% decline from the P428.18 million recorded income in the earlier quarter.

Revenues were also lower, totaling P1.03 billion, a 14.6% decline from P1.2 billion last year.

Year to date, the company’s income was a bit higher at P687.52 million, or 4.6% more than the P657.59 million recorded last year.

Its first-half topline was lower by 6.1% to P2.57 billion from the P2.74 billion generated a year ago.

AllHome registered a 15.7% decline in second-quarter net profit to P250.02 million from the previous year’s P296.76 million. This is a reversal from the recorded net loss of P27.91 million in the first quarter.

The company’s topline fell by 3.4% to P3.03 billion from the P3.13 billion recorded last year.

Year to date, its profit was almost three times lower at P222.11 million, down from P640.97 million in the previous year.

Its first-half top line was also lower at P6.27 billion, a 6.8% decline from P6.72 billion last year.

AllDay Marts posted a net profit of P87.21 million in the second quarter, 19.5% lower than the previous year’s P108.32 million.

This is a complete reversal from last quarter’s P75.58-million net loss.

The company’s sales slipped by 2.5% to P2.3 billion from the P2.36 billion a year ago.

Year to date, the company’s profit declined 93.5% to P11.63 million from P179.64 million in the previous year.

Meanwhile, its first-half topline climbed by 2.2% to P6.27 billion from P4.49 billion last year.

On Monday, Golden MV shares closed unchanged at P670 apiece; AllHome shares went down by 0.56% or P0.03 to P5.33 each; and AllDay stocks climbed by 2.78% or P0.01 to P0.37 apiece. — Justine Irish D. Tabile