AllHome Corp., the newly listed one-stop shop home store chain of billionaire Manuel Villar Jr., said Friday net income in the first nine months of the year surged 225 percent to P746.2 million from P229.7 million year-on-year.
Revenues increased 72 percent to P8.2 billion from P4.8 billion a year ago, the company said in a disclosure to the stock exchange.
“We are very pleased with the company’s continued strong growth in our bottomline numbers as well as the surge in our total revenues for the first nine months of the year,” said AllHome chairman Villar.
“AllHome continues to deliver solid performance which brings us closer to our full year target. As we have previously mentioned, the home improvement industry in the Philippines is still under penetrated and we are taking advantage of such by aggressively opening AllHome to more locations across the country,” he added.
The company earlier opened three new stores in October to boost its store network to 30.
The three new stores are in Starmall Alabang, Starmall San Jose del Monte Bulacan and Vista Mall North Molino.
AllHome vice president Camille Villar said the company was on track with the store expansion program for the year and the next that will double net selling space by the end of 2020.
“Expansion is focused on Mega Manila for now, but the longer-term plan is to bring AllHome to the rest of the Philippines. For October alone, the Company opened three new stores in Alabang, Bulacan, and in Cavite,” she said.
AllHome made a debut in the Philippine Stock Exchange through an initial public offering on October 10. It is the fourth listed company of the Villar Group.
Other listed firms owned by the Villars are Vista Land & Lifescapes Inc., Vistamalls Inc. and Golden Bria Holdings Inc.
Share price of AllHome on Friday added 0.9 percent to P11.48.