AllHome income up 46% as economic activity returns
Billionaire Manuel Villar Jr.’s home improvement retailer AllHome Corp. saw profits jump higher last year on the back of higher sales and margins.
In a statement, AllHome said net income climbed 46 percent to P1.44 billion as net revenues jumped 15 percent to P14.32 billion as business activity started to recover in 2021.
AllHome also attributed gains to e-commerce sales and a larger focus on higher margin in-house brands.
Profit margins last year increased to 35 percent of revenues compared to 31.6 percent the previous year, the company said in the statement.
AllHome president Benjamarie Therese Serrano said the company’s financial performance were “indicators of our strength and our continued commitment to both improve and build on the AllHome value proposition as well as deliver value to our stakeholders.”
“With the government’s steady pace of downgrading restrictions towards a more normal scenario, we are starting to see our operations returning to full strength,” she added.
Serrano said the company also remained on track to reach 100 stores by 2026.
Meanwhile, e-commerce revenues last year accounted for 11 percent of the total figure.
“With the increasing adoption of online shopping across all consumer channels, AllHome will continue to leverage innovative customer-facing measures and automated digital marketing campaigns to strengthen our omnichannel presence and grow our consumer base,” AllHome vice chair Camille Villar said in the same statement.
“Aside from AllHome’s strong performance in a time of pandemic, we are notably gaining ground in the e-commerce space, with 11 percent of our revenue now coming from online channels,” she added.
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