Aug 16, 2021
MANILA, Philippines — AllHome Corp., the pioneering one-stop shop home store in the Philippines, recorded a net income of P297 million in the second quarter, significantly higher than the P5 million reported a year ago.
Net sales grew to P3.132 billion, up 110 percent from P1.489 billion the previous year.
The government’s move to resume economic activities during the second quarter allowed AllHome stores to operate although on shortened hours, still a better situation from last year that forced the temporary closure of its branches in Luzon.
AllHome chairman Manuel Villar Jr. attributed the company’s double-digit growth to its ability to adapt to the current COVID-19 pandemic and address the shopping behavior of its valued clients.
“This pandemic gave us the opportunity to look at our strategies and implement innovations and initiatives to increase operational efficiency. Those innovations lead to the improvement in our margins as we recalibrate our merchandise mix and implement strategic pricing to enhance returns,” Villar said.
Read the full article here: https://www.philstar.com/business/2021/08/16/2120168/allhome-profit-jumps-p297-million-q2
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