AllHome Net Income Jumped To 1.1 Billion

AllHome net income jumped to P1.1 billion, the Villar-led AllHome Corp has its revenues surged on the back of aggressive store expansion. In a statement Monday, the listed home development retailer said its 2019 performance marked a banner year for the company, as revenues shot up 68% to P12.1 billion.

“Together with AllHome’s debut in the stock market, 2019 was a milestone for the company also in terms of operations as we registered strong growth in both topline and bottom-line numbers for the year,” said AllHome chairman Manuel Villar Jr.

Villar restated that the home improvement industry in the Philippines is “still underpenetrated and we are taking advantage of such by aggressively opening AllHome to more locations across the country.”

“Our aggressive store expansion is a major driver for our record performance for 2019. Last year, we added a total of 22 new stores which bring our total stores to 45. Our 45 stores are composed of 22 large mall-based, 10 large free-standing and 13 specialty stores,” added Benjamarie Therese Serrano, president of AllHome.

During the coronavirus disease 2019 pandemic, Camille Villar, vice chairman of AllHome, said they believe that the home improvement industry “will bounce back as soon as the lockdown is lifted as there will be pent-up demand after staying at home for almost three months”.

AllHome shares($HOME) at the stock exchange fell five centavos or 0.93% to P5.31 each on Monday. More..

Stockbytes PH, June 2, 2020

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