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AllHome nets P746.2-M in 9 months

November 14, 2019, 9:30 pm

MANILA -- AllHome Corp., a pioneering one-stop shop home store in the Philippines, booked a record growth of 225 percent in net income for the first nine months of 2019 to PHP746.2 million from PHP229.7 million in the same period last year.

The company said its total revenues also increased by 72 percent to PHP8.2 billion from PHP4.8 billion.

“Allhome continues to deliver solid performance which brings us closer to our full year target. As we have previously mentioned, the home improvement industry in the Philippines is still underpenetrated and we are taking advantage of such by aggressively opening Allhome to more locations across the country,” AllHome chairman Manuel Villar Jr. said in a statement.

Camille Villar, vice chairman of AllHome, said they are “very much on track” with their store expansion program for this year and 2020.

“We aim to at least double our net selling space by end 2020. Expansion is focused on Mega Manila for now, but the longer-term plan is to bring AllHome to the rest of the Philippines,” she said.

For October alone, the company opened three new stores in Alabang, Bulacan, and in Cavite.

To date, it has 30 stores across the country which are mostly in large-mall based format.

AllHome made a debut in the Philippine Stock Exchange via initial public offering (IPO) last October 10, 2019. (PR)

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