AllHome earnings up 22% to P746 million
Iris Gonzales (The Philippine Star) - November 17, 2019 - 12:00am

Manila, Phillipines — AllHome Corp., the Villar-owned one-stop shop home store in the Philippines, posted a strong nine-month performance.

The company delivered a 22 percent growth in net income to reach an all-time high of P746.2 million.

AllHome raked in P8.2 billion in total revenues, up 72 percent.

AllHome chairman Manuel Villar Jr. said growth has been steady and the company hopes to continue expanding.

He said AllHome continues to deliver solid performance, bringing it closer to its full year target.

Villar said the home improvement industry in the Philippines is growing.

“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,” he said.

Camille Villar, vice chairman of AllHome, said the company looks forward to ending the year on a strong note.

“We remain confident about the company’s prospects for the rest of the year given that historically our 4th quarter performance is better than the rest of the quarters. Our AllHome would benefit from the holiday season as the stores are strategically located and are part of our innovative ecosystem of world class retail concepts surrounding it,“ Villar said.

Aside from the 2019 prospects, AllHome also expects business to remain strong next year.

 “We are on track with our store expansion program to 2020,” said Benjamarie Therese Serrano, president of AllHome.

The company hopes to continue growing its market share with its planned expansion.

“For October alone, we opened three new stores located in Alabang, Bulacan and Cavite which brings our total stores to thirty. Our 30 stores consist of 22 large mall-based, four large free-standing, and four specialty stores,” she said.

AllHome was able to capture 7.1 percent market share in a span of six years and is considered the fastest growing home improvement store in the country.

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

ALLHOME CORP.
Philstar
  • Latest
  • Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

SIGN IN
or sign in with