AllHome builds up profit to P270 million !-- -- Iris Gonzales (The Philippine Star) - July 5, 2020 - 12:00amMANILA, Philippines AllHome, the listed one-stop home furnishings store of the Villar Group, reported an improvement in profitability to P270 million in the first quarter from P207 million a year ago. Camille Villar, vice chairman of AllHome, said the company was able to take advantage of its category mix.
Revenue grew to P3.7 billion from P2.4 billion a year ago. At present, AllHome has seven categories furniture, appliances, hardware, homewares, linens, construction, tiles and sanitary wares.
Villar said AllHome's wide category mix makes it resilient even during economic difficulties. "The company is taking advantage of its balance category mix which is comprised of 58 percent soft and 42 percent hard.
Our product mix provides cushion to the company during economic instability. This is why during the first quarter, we saw an increase in hardware that compensated the decline in construction.
When there is a reduction in one category, we see an increase in the other categories," Villar said. In the second quarter, appliances contributed almost 40 percent of sales which comes from the company's pop up store near All Day Supermarket.
"While the company saw a continued reduction in sales from construction for the quarter it was offset by the sustained increase in sales in the hardware category," AllHome said.
© Pakistan Press International, source Asianet-Pakistan