AllHome nets P1-B in 2020 amid pandemic

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Photo from AllHome Facebook Page

By: Philippine News Agency

MANILA – AllHome Corp., the pioneering one-stop-shop home store in the Philippines, reported Friday a slight decline in net income reaching about PHP1 billion last year from PHP1.05 billion in 2019 amid the challenges of the pandemic.
Its profit in the fourth quarter surged by 28 percent to PHP399.6 million from PHP312.5 million in the third quarter, while full-year sales reached PHP12.4 billion which was an increase of 3 percent from 2019.
The company said the improvement in sales and net income was brought about by the opening up of the Philippine economy and easing of quarantine restrictions in the third quarter and fourth quarter that compensated for the loss of revenues in the second quarter.
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