The retail and real estate firms of billionaire Manuel Villar Jr. posted strong profits in the first half of 2024.
Vista Land & Lifescapes Inc. booked first-half net income of P5.38 billion, up by 10.2 percent from P4.88 billion recorded in the same period last year as revenues climbed 8 percent to P18.92 billion.
“We are pleased with our performance in the first semester of 2024, as we have maintained our growth trajectory. We are committed to continuing our strategy of asset maximization and optimization through Vista Estates, which now encompasses 26 locations nationwide,” said Villar, chairman of Vista Land.
“We also aim to solidify our foothold in the horizontal residential market with several launches in areas specifically in the provinces given our wide geographic presence in the country,” he said.
Revenues from real estate sales reached P9.62 billion in six months ending June 30, 2024, an increase of 20 percent year-on-year on higher overall completion rate of sold inventories of some of its business units.
Rental income also increased 7 percent to P8.47 billion from P7.92 billion a year ago.
Reservation sales reached P39.2 billion in the first semester, a 10-percent increase compared to the same period last year.
AllDay Supermarket posted a 7.7-percent increase in net income in the first semester to P185 million from P171 million a year earlier. First-half revenues were flat at P4.9 billion.
AllDay acting president and chief executive Jacqueline Cano attributed the higher first-half net income to controlled spending and cost control measures implemented during the period.
“Notably, our increased efforts to shore up AllDay’s brand equity through an attractive and comprehensive imported item offering as well as optimal pricing strategies are increasingly bearing fruit,” Cano said.
AllHome, the Philippines’ pioneering one-stop full line home center, reported P5.6 billion in revenue at the close of the first half of 2024 on stable sales from furniture and home appliances.
“We will continue to lean into the implementation of efficiency initiatives in service of our bottomline. We fully intend to run a tight ship in AllHome in service of delivering better value for our stakeholders,” said AllHome president and chief executive Benjamarie Therese Serrano.
