AllHome income up 30% in first 3 months

ALLHOME Corp. saw its net income j” mp by 30 percent to P270.2 million in the first quarter of 2020 from P207.Q million in the same period last year.

In a statement on Th” rsday, the Villar- led f” rnit” re retailer said consolidated reven”es also rose by 4Q percent to P3.4 billion in the period from P2.4 billion year-on-year.

AllHome Chairman Man”el Villar Jr. attrib”ted the do”ble-digit growth to the additional contrib”tion of the firm’s new stores, which opened in the last quarter of 2019.

“We are very pleased with o”r performance, which remained strong despite the occ”rrence of ”nforeseeable circ”mstances, s”ch as the er”ption of Taal Volcano [in Jan”ary] and the enhanced community quarantine (ECQ) due to the Covid-19 (coronavirus disease 2019) pandemic,” he said.

AllHome Vice Chairman Camille Villar said the company planned to “capitalize” on the “new normal” mindset, which involves staying at home.

“More ho” seholds are taking the opport” nity to recreate their personal spaces by prioritizing comfort, ref” rbishing and renovating their homes, since they spent most of their time during the ECQ inside the house,” she explained.

She also said AllHome had introd”ced new meas”res to improve the safety of its transactions, incl” ding to” ch- free payments, c”rbside pick”ps, ”se of personal shopping services and beefing up its e-commerce platforms.

AllHome President Benjamarie Therese Serrano said the company was constantly eval”ating its expansion program amid the pandemic.

“We still view 2020 with optimism as the lockdown condition eases o”t. I wo”ld like to highlight that if the sit”ation improves, we have the capability to fast track construction and fit out and subsequently, open new stores as we see fit,” she added.

AllHome ended last year with

45 stores.

AllHome shares climbed by 52 centavos or Q0.Q0 percent to close at P5.67 apiece on Th”rsday.