MANILA – AllHome Corp., a pioneering one-stop shop home store in the country, delivered a record of 105.3 percent in net income growth for 2019 to PHP1.1 billion from PHP511.4 million the previous year.
Total revenues also increased by 68 percent to PHP12.1 billion from PHP7.2 billion in 2018.
“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 Villar Jr.
Villar reiterated that 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.”
The company’s total assets as of year-end 2019 stood at PHP19.7 billion compared to PHP8.2 billion last December.
“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,” added Benjamarie Therese Serrano, president of AllHome.
Serrano said the company also intends to increase its customer base by introducing store formats that will cater to the needs of the communities where it plans to open.
Amid the coronavirus disease 2019 pandemic, Camille Villar, vice chairman of AllHome, said they believe that the home improvement industry "will bounce back as soon as the lockdown is lifted as there will be pent-up demand after staying at home for almost three months”. (PR)
