AllHome Corp., the Villar group’s listed retail arm for home improvement, reported income nearly double last year’s P222.11 billion in the first half this year to P442.13 million.
The company traced the growth to healthy sales.
Revenue slightly fell 3 percent to P6.03 billion from last year’s P6.26 billion.
In the second quarter alone, revenue was higher 3 percent to P3.11 billion from last year’s P3.02 billion. Profits, meanwhile, were down 8 percent to P229.85 million from P250.02 million.
“Our second quarter performance is a reminder of AllHome’s capability to quickly adapt to shifting consumer spending, and we expect to sustain this energy as we move towards the second half of the year,” AllHome chairman Manuel B. Villar Jr. said.
He expressed confidence and optimism on what lies ahead of the business in the second half of the year and bared “a positive 2024 outlook that sees a rise in condominium turnovers, which means entry into the furnishing stage”.
AllHome’s core income for the period expanded 25 percent net of fire loss, reversing the first quarter’s downtrend and bringing AllHome at par with last year’s performance.
AllHome ended June this year with total assets of P27.04 billion.
