AllHome’s net profit jumps 30% to ₱270 M

AllHome Corporation, the Villar group’s pioneering one-stop shop home store in the Philippines, posted a 30 percent jump in net income to ₱270.2 million in the first quarter of 2020 from the ₱207.1 million earned in the same period last year.

In a disclosure to the Philippine Stock Exchange, the firm reporter that total revenues for the first quarter surged by 41 percent to ₱3.4 billion from ₱2.4 billion in the same period in 2019.

“AllHome’s growth in the first quarter of 2020 was mainly driven by the additional contribution from the new store openings from the last quarter of 2019,” said AllHome Chairman Manuel B. Villar Jr.

He added that, “We are very pleased with our performance, which remained strong despite the occurrence of unforeseeable circumstances such as the eruption of Taal Volcano and the Enhanced Community Quarantine (ECQ) due to the COVID-19 Pandemic.”

AllHome Vice Chairman Camille A. Villar, said, “The start of the year has been quite challenging. However, AllHome plans to capitalize on the ‘new normal mindset’ which is to stay at home.”

“More households are taking the opportunity to recreate their personal spaces by prioritizing comfort, refurbishing and renovating their homes since they spent most of their time during the ECQ inside the house,” she noted.

She added that, “We also added measures to enhance the safety of our transactions such as touchfree payments and various delivery options, including curbside pickups, the use of personal shopping services and beefing up our e-commerce platforms.”