Newsletter
Shop
Login
Menü
Subscribe now
Philippine home improvement retailer AllHome's first quarter-income rose by 30.4 per cent despite the closure of top-selling stores in the last two weeks of the period. The company disclosed a net profit of PHP 270.2 mio (EUR 4.8 mio, USD 5.4 mio) for January to March 2020, from PHP 207.1 mio in the same period last year. Sales rose by 41.6 per cent to PHP 3.36 bn from PHP 2.38 bn.
A 24.3 per cent rise in same-store sales, though weaker than the 32.5 per cent growth posted in the first quarter last year, and revenues generated by 22 branches opened between April and December 2019 provided support. No new locations opened in the first quarter of 2020.
AllHome closed all stores on the country's largest island of Luzon from March 17 to May 15 following the imposition of one of the world's toughest and longest Covid-19 lockdowns. Pre-lockdown, they accounted for 84.3 per cent of AllHome's 2020 revenues.
A 24.3 per cent rise in same-store sales, though weaker than the 32.5 per cent growth posted in the first quarter last year, and revenues generated by 22 branches opened between April and December 2019 provided support. No new locations opened in the first quarter of 2020.
AllHome closed all stores on the country's largest island of Luzon from March 17 to May 15 following the imposition of one of the world's toughest and longest Covid-19 lockdowns. Pre-lockdown, they accounted for 84.3 per cent of AllHome's 2020 revenues.
