VILLAR-LED AllHome Corp. increased its net profits by 27.4 percent to P344.21 million in the first quarter, owing to higher sales.
According to a stock exchange filing made on Monday, the listed company’s net income for the January-to-March cycle is higher than the P270.22 million it had over the same period last year.
The company’s sales for the quarter increased 6.5 percent year on year to P3.59 billion, up from P3.37 billion the previous year.
“Gross profit, earnings before interest, taxation, depreciation, and amortization (EBITDA), and net income margins were all higher by over 125 basis points from the same time last year,” the firm added.
AllHome Chairman Manuel B. Villar, Jr. stated that amid the coronavirus disease 2019 (COVID-19) pandemic, the company’s first quarter success is carried by initiatives to improve its digital presence and store network extension throughout provinces.
“Digital growth for AllHome is one of our key market goals for the year. Given the shift in customer behavior as a result of the current neighborhood lockdowns, we expect that on-demand distribution and online purchasing would continue to grow and supplement in-store sales,” Mr. Villar said in the disclosure.
According to AllHome President Benjamarie Therese N. Serrano, the company’s shop network now includes 54 stores, including new locations in General Santos City, Cauayan in Isabela, Bacolod in Negros Occidental, and Bacoor in Cavite.
She also said that the organization is certain that customer trust will return when more Filipinos are immunized against COVID-19.
“We remain entirely dedicated to providing the same level of support, whether in-store or online,” Ms. Serrano said in the disclosure.
Camille A. Villar, vice-chairman of AllHome, stated that the firm adapted to its consumers’ needs by shifting to online sales as a consequence of the pandemic.
“In addition, we continue to pursue the modern standard by exploring ways to help our consumers shop safely in-store or from the convenience of their own homes across our online channels,” Ms. Villar said in the disclosure.
“To further extend our reach, AllHome is actively working with the country’s leading digital marketplaces to ensure that we tap into all potential digital markets,” she said.
On Monday, AllHome shares gained 1.30 percent, or nine centavos, to P6.99 per share on the stock exchange. Ochave Revin Mikhael D. Revin Mikhael D. Revin Mikhael D. Revin Mikhael