AllHome hounded by weak demand and construction delays

Philippine home improvement retailer AllHome Corp. reported a significant fall in revenues in the nine months ending September 2024 as it continued to struggle with weak demand and delays in the completion of residential projects. The company reported accumulated revenues of 7.785 bn Philippine pesos (PHP, EUR 127,114 mio) for January to September, an 11.3-per cent drop from the same period the previous year.

“This was brought about by the weakened demand in the hard categories as customers deferred their purchases for home construction and finishing owing to rising inflation,” it said. “The hard categories were continuously affected with further decline in sales by 21 [per cent]  as of nine months 2024 compared to same period last year.” Soft categories such as appliances and furniture, which are traditionally AllHome’s core sales drivers, failed to provide support this time, as…