ALLHOME Corp. has registered a double-digit growth in the fourth quarter revenue and net income compared to the previous quarter.
Revenues were at P4.1 billion for the last quarter compared to P3.5 billion in the third quarter or an 18 percent growth. Full- year sales were at P12.4 billion, which is an increase of three percent from 2019 despite the challenges of the pandemic.
Net income for the fourth quarter likewise posted double-digit growth of 28 percent to P399.6 million from the third quarter’s P312.5 million with a full-year net income reaching about P1 billion, which was slightly down from 2019’s P1.05 billion.
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.
AllHome ended 2020 with 50 stores. (PR)