Jun 02, 2020
AllHome Corporation, the Villar group’s pioneering one-stop shop home store in the Philippines, delivered a record 105.3 percent surge in net income to ₱1.1 billion last year from the ₱511.4 million earned in 2018.
In a disclosure to the Philippine Stock Exchange, the firm said total revenues jumped by 68 percent to ₱12.1 billion last year from ₱7.2 billion in 2018 making 2019 a banner year for the Company after its public offering in last October.
“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 bottomline numbers for the year,” said AllHome Chairman Manuel B. Villar Jr.
He added that, “We are very pleased with the Company’s solid performance in achieving our full year target. As we have previously mentioned, the home improvement industry in the Philippines is still under¬penetrated 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 the 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,” said AllHome President Benjamarie Therese N. Serrano.
She noted that, “As AllHome continues to expand, we also intend to increase our customer base by introducing store formats that will cater to the needs of the communities where we plan to open. We will launch the first phase of AllHome which will be carrying majority of our Hard categories, to areas where it’s still in the early stage of housing construction with a plan to eventually expand it to a regular AllHome once home buyers ‘start to move-in.’”
Article link: https://business.mb.com.ph/2020/06/01/villars-allhome-doubles-profit-to-%E2%82%B11-1-b-in-2019/
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