AllHome profit rises by 27% in January-March

AllHome Corp., the listed retail arm of the Villar Group, on Monday said its income in the first quarter grew 27 percent to P344.2 million from last year’s P270.21 million as it increased its margins from sales.

Revenues in the January-to-March period rose 6 percent to P3.6 billion from last year’s P3.36 billion, the company said.

The company said its gross profit, earnings before interest, depreciation and amortization (EBITDA) and net income margins were at 31.9 percent, 22.1 percent and 9.6 percent, respectively, which were all higher by over 125 basis points from same period last year.

“The strong first quarter performance is a result of our continued innovation amidst this pandemic. Since last year, we have made a concerted effort to expand our digital footprint, in addition to our store network expansion in the provinces,” AllHome Chairman Manuel B. Villar Jr. said.

“AllHome’s digital expansion is one of our top business priorities for the year. Given the change in consumer trend with the ongoing community lockdowns, we believe that on-demand delivery and online shopping will continue to increase and augment in-store sales.”

Camille A. Villar, the company’s vice chairman, said they adjusted quickly to the demands of the new normal, from the fulfillment of online orders to servicing customers online. AllHome, she said, is partnering with the country’s leading digital marketplaces to tap more market.

Benjamarie Therese Serrano, the company’s president, said the company is optimistic for the rest of the year especially as more Filipinos are vaccinated, consumers will gain confidence to return to the stores.

“Meantime, we remain fully committed to delivering the same quality of service, whether it be for in-store or online customers. In terms of our store expansion program, AllHome opened two new stores within the first quarter of 2021, with two more stores opening in April and May,” she said.

The AllHome store network now stands at 54 locations, with newly opened stores in General Santos City, Cauayan in Isabela, Bacolod in Negros Occidental and Bacoor, Cavite.

Article and Photo originally posted by Business Mirror last May 18, 2021 and written by VG Cabuag.