AllHome’s profit surges to P297M as activities resume
Aug 16, 2021
ALLHOME Corp. said in a statement that its net income after tax surged to P297 million in the second quarter after the government allowed the resumption of economic activities, resulting in its stores operating on shortened hours.
The figure surged by nearly 54 times from its P5-million after-tax net income recorded in the same period last year.
“The government’s move to resume economic activities during the second quarter this year allowed our AllHome stores to operate although on shortened hours — which was a far cry situation from last year that forced the temporary closure of AllHome’s branches in Luzon,” the company said.
Its net sales also grew by 110% to P3.13 billion from P1.49 billion. Without disclosing specific figures, the company said its gross profit rose by 130%.