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AllHome Corp. said profit for the first quarter of the year reached P270.2 million, up 30 percent from P207.1 million last year.
Revenues was at P3.4 billion, up 41 percent from P2.4 billion in 2019.
AllHome’s growth in the first quarter of 2020 was mainly driven by the additional contribution from the new store openings from the last quarter of 2019.
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AllHome said it is “constantly evaluating its expansion program” due to the change in business environment.
The company grew store network from 23 in 2018 to 45 by the end of 2019.
The company said still views 2020 with optimism as the lockdown condition eases.
The company closed the period with assets of P19.9 billion, up 1.02 percent from P19.7 billion in end-2019.
