VILLAR-LED AllHome Corp. posted a 27.4% increase in its net income for the first quarter to P344.21 million on the back of improved revenues.
The listed company said in a stock exchange disclosure on Monday that its net income for the January-to-March period is higher than the P270.22 million it had the same period last year.
Sales of the company for the quarter also went up 6.5% year on year to P3.59 billion compared to P3.37 billion it had last year.
“Gross profit, earnings before interest, taxes, depreciation, and amortization (EBITDA), and net income margins were at 31.9%, 22.1% and 9.6%, respectively, which were all higher by over 125 basis points from same period last year,” the company said.
AllHome Chairman Manuel B. Villar, Jr. said the company’s first quarter performance is carried by the efforts in improving its digital footprint and store network expansion across provinces despite the coronavirus disease 2019 (COVID-19) pandemic.
“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,” Mr. Villar said in the disclosure.
According to AllHome President Benjamarie Therese N. Serrano, the company’s store network currently stands at 54 locations, with new branches in General Santos City, Cauayan in Isabela, Bacolod in Negros Occidental, and Bacoor in Cavite.
She added that the company remains optimistic that consumer confidence will return as more Filipinos are vaccinated against COVID-19.
“We remain fully committed to delivering the same quality of service, whether it be for in-store or online customers,” Ms. Serrano said in the disclosure.
Camille A. Villar, AllHome vice-chairman, said the company adjusted to the demands of its customers with the shift to online transactions as a result of the pandemic.
“Additionally, we continue to explore the new normal by finding ways to let our customers shop safely in-store, or in the comforts of their own homes via our online channels,” Ms. Villar said in the disclosure.
“To further expand our presence, AllHome is aggressively partnering with the country’s leading digital marketplaces to ensure that we tap all possible markets in the digital space,” she added.
On Monday, shares of AllHome at the stock exchange rose 1.30% or nine centavos to finish at P6.99 per share. — Revin Mikhael D. Ochave
