AllHome Corp., led by VILLAR, generated a net income of P399.6 million in the fourth quarter of 2020, up 28 percent from the previous quarter’s income of P312.5 million.
The group announced in a statement on Saturday that the selling and net profit are strengthened by the opening up of the market in the Philippines and the removal of quarantaine constraints in the third quarter and fourth quarter.
Revenues in the final quarter of the year have risen by 18 percent from P3.5 billion in the third quarter to P4.1 billion. Comparative numbers from year to year were not revealed.
In 2020, AllHome’s net profits decreased from P1.05 billion by five percent to P1 billion. Despite the pandemic, net revenues increased by almost 3% to P12,4 billion, down from P12,06 billion.
“In the first days of [enhanced neighborhood quarantine], AllHome’s Vice President Camille A. Villar showed the power and capacity to adapt rapidly to the health and shopping problems of the pandemic and focus on the AllValue retail climate by placing pop-up shops for vital items next to AllDay’s affiliate supermarket,” says Camille A. Villiar.
AllHome started to offer its physical stores cashless payment choices. Allhome.com.ph, introduced a Vibre group and established a customized shopperservice, launched the eCommerce site.
“While we use them for our fulfilment, our digital presence complements our brick and mortar shops,” said Camille, Villar.
AllHome said its seven merchandise categories were maximized to generate revenue, while the soft categories compensate for the loss of hard category sales.
“The balanced combination of seven commodity classes and diversified brand portfolios has made it possible for AllHome to reduce construction selling slowdowns. The organization said without releasing precise estimates, that the Soft group allocated 62% of total income to equipment as the leading contributor at 31% of total income in 2020.»
AllDigital, the latest model for home-work goods, distance learning and online games, has extend the category of equipment.
“We’ve re-started with our expansion scheme, strengthened by economic revitalisation and the steady growth in our revenue after the third quarter of 2020,” said AllHome President Manuel B. Villar Jr.
The business said its tactics have “proven to be successful in this era,” citing a balanced combination of categories and moving shops closer to residential areas.
“Last year, after we saw a slightly stronger third quarter of revenue, we have modified our cautious view on our shop expansion plan,” Benjamarie Therese Serrano, President of AllHome.
With 50 stores in 2019, AllHome closed the year. From September to December 2020, the five additional stores were opened. In the meantime, in January and February 2021, two more stores were opened.
“It is why we can open a range of stores in a short time through our partnership with Villar Group. In addition to captive consumer base, such synergies with the Company involve more specifically the position of the store and the quick-track building power.”
“In the 2021 home renovation market we are moderately hopeful,” Mr Manuel B. Villar says.