AllHome Corp., the listed one-stop shop home store of the Villar Group, said Monday net income jumped 105.3 percent in 2019 to P1.1 billion from P511.4 million in 2018 on aggressive store expansion.
AllHome said in disclosure to the stock exchange total sales increased by 68 percent to P12.1 billion last year 2019 from P7.2 billion in 2018.
“Together with AllHome’s debut in the stock market, 2019 was a milestone for the company also in terms of operations as we registered strong growth in both topline and bottomline numbers for the year,” said AllHome chairman Manuel Villar Jr.
“We are very pleased with the company’s solid performance in achieving our full-year target. As we have previously mentioned, the home improvement industry in the Philippines is still underpenetrated, and we are taking advantage of such by aggressively opening AllHome to more locations across the country,” he said.
AllHome president Benjamarie Therese Serrano attributed the company’s strong financial performance in 2019 to aggressive store openings