AllHome Corp., a pioneering one-stop full line home center of billionaire Manuel Villar, said Wednesday net income in the nine months through September surged 46 percent to P582 and is hopeful of further gains in the fourth quarter.
“We are heading into last quarter of 2023—historically strong for AllHome—and beyond that, a positive 2024 outlook. We are pleased that we are able to turn in a steady performance to close first nine months of 2023,” said Villar, who is also AllHome chairman.
Villar said soft categories are likely to lead sales growth as new homeowners enter the furnishing stage. He added that the pickup in sales of soft categories also coincides with a holiday season, when many migrant Filipino workers will be coming home to their families.
AllHome president and chief executive officer Benjamarie Therese Serrano said that while the performance of hard category slowed down, “we also see a unique opportunity to wrestle market share from our competitors.”
“In addition to our hard categories, the AllHome value proposition of one-stop full-line home center allows us to present to an attractive alternative to in terms of unique offerings and convenience to our customers,” she added.
Serrano said the implementation of initiatives to optimize operations, including store revenue potential, energy and manpower initiatives as well as warehousing have started to “bear fruit.”
AllHome declared cash dividends for stockholders on record Nov. 30 that will be paid on Dec. 15.
The company ended September with total assets of P26.9 billion.
