Villar Companies Report Mixed Earnings Amid Shifting Consumer Spending

The Villar Group of companies reported mixed earnings for the first half of 2024, reflecting varied impacts of consumer spending across its businesses. Vista Land and Lifescapes Inc., the group’s property arm, saw an 11% rise in net income, reaching P6.4 billion, driven by increased sales from key real estate projects. The company’s revenues grew by 8% to P19.9 billion, with real estate sales up by 20% to P9.62 billion and rental income increasing by 7% to P8.47 billion.

However, the group’s home retail segment faced challenges, experiencing a decline due to changing consumer spending behaviors, highlighting the polarizing effects on different sectors within the Villar Group.