spot_img
28.1 C
Philippines
Friday, March 29, 2024

AllHome’s profit grew by 46% to P1.44b last year

- Advertisement -

AllHome Corp., a leading home improvement store chain led by the Villar Group, said Thursday net income jumped 46 percent in 2021 to P1.44 billion from P988 million in 2020 on the back of a double-digit growth in revenues.

AllHome said in a disclosure to the stock exchange net revenues climbed 15 percent to P14.325 billion from P12.414 billion after the overall business improved with easing mobility restrictions.

Same-store sales growth rose to 8.1 percent in 2021 from 3.5 percent in 2020, while transaction count also went up 8 percent year-on-year.

“AllHome’s performance in fiscal year 2021 is a full display of our core advantages as we navigated through the many challenges of the pandemic. As this global challenge draws to a close, we view 2022 with optimism. All signs point to an increased pace of economic recovery throughout the country, and this bodes well for AllHome,” AllHome chairman Manuel Villar Jr. said.

Gross profit margins in 2021 increased to 35 percent of revenue from 31.6 percent in 2020 as the company implemented a number of initiatives including strategic pricing, conversion of select concession merchandise to outright and increasing in-house brands sales contribution.

- Advertisement -

AllHome, to capitalize on changing customer behavior skewed towards an increasing adoption of e-commerce as a sales channel, deployed operational efficiency programs to optimize store formats, allowing for additional store warehousing and dedicated fulfillment and logistics areas for e-commerce fulfillment.

The company said that as of end-2021, e-commerce revenues accounted for 11 percent of total sales.

The company also opened new generation AllHome stores, which carry a smaller footprint and require less capital expenditures to fit out.

“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 omni-channel presence and grow our consumer base. 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,” said AllHome vice chairman Camille Villar.

- Advertisement -

LATEST NEWS

Popular Articles