AllHome income soars to P582 million in 9 months

MANILA, Philippines — AllHome, the one-stop, full-line home center of the Villar Group, reported a net income of P582 million in the nine months to September, growing by 46 percent as the company raked in P8.780 billion in revenue during the period on the back of the steady recovery of the economy as more restrictions were eased.

AllHome chairman Manuel Villar Jr. said he expects the last quarter to be even better given the traditional holiday spending.

“We are heading into the 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 9M2023,” Villar said.

“We are confident in the performance of our soft categories, as this shows that new homeowners are now entering into the furnishing stage, and we see this further picking up to close out 2023. This uptick in AllHome’s soft categories also coincides with a holiday season where travel and movement restrictions from the pandemic are gone, and OFWs will be coming home to their families, which only bodes well for AllHome.” he said.

AllHome president and CEO Benjamarie Therese Serrano likewise expressed optimism heading into the fourth quarter.

“We are of course pleased with our business results at the nine-month mark of 2023. We set out to implement initiatives toward optimization of our operations across the board: store revenue potential, energy and manpower initiatives – even warehousing. We are glad to see all of these bear fruit.”

At the same time, however, she noted a slowdown in the hard category performance.

“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 said.

AllHome also declared cash dividends for its stockholders of record as of Nov. 30, 2023, to be paid on Dec. 15, 2023. AllHome ended September 2023 with total assets of P26.9 billion.