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Manila Bulletin devider Business devider The Stock Market devider AllHome posts P282-million first half income

AllHome posts P282-million first half income

Published Aug 15, 2024 01:03 am

Villar-led AllHome Corporation, the Philippines’ pioneering one-stop full-line home center, reported a net income of P282.4 million in the first half of 2024 as revenues reached P5.6 billion.

In a disclosure to the Philippine Stock Exchange, AllHome President and CEO Benjamarie Therese Serrano said, “Notable in AllHome’s performance is the stable contribution from its core categories—furniture and appliances, allowing us to deliver sustained value for our stakeholders.”

Serrano also reiterated AllHome’s commitment to extracting more value from operational efficiencies.

“We will continue to lean into the implementation of efficiency initiatives in service of our bottomline. We fully intend to run a tight ship in AllHome in service of delivering better value for our stakeholders,” she said.

AllHome Chief Operating Officer Frances Rosalie T. Coloma pointed to the chain’s core businesses as a key performance driver.

“AllHome’s first half 2024, with note on second quarter 2024, saw brisk sales of cooling appliances—an uptick of 11 percent.

“These continue to offset a slower than expected completion of most construction activities of the AllHome market base, a factor in the lower turnover of units for the half, affecting AllHome’s offering of finishing materials, tiles & sanitary wares,” said Coloma.

In its second quarter 2024 Metro Manila Residential Report, Colliers indicated increased unit turnover for the second half of 2024, although the same period will be met with a softer condominium sales market in Metro Manila.

Related Tags

AllHome Corporation Frances Rosalie T. Coloma Benjamarie Therese Serrano
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