AllHome, which sells furniture, appliances, and building materials, saw income fall 36 percent to P282 million during the period while revenues also slumped over 7 percent to P5.6 billion.
Management’s view
AllHome’s chief operating officer Salie Coloma said revenues were partly supported by the sale of air-conditioning and other cooling appliances, which jumped 11 percent during the sizzling summer months in the second quarter.
“These continue to offset a slower-than-expected completion of most construction activities of the AllHome market base, a factor in the lower turnover of units for the half, affecting AllHome’s offering of finishing materials, tiles & sanitary wares,” Coloma said.
Focus on cost management
AllHome president and CEO Benjamarie Therese Serrano said the company aims to raise “operational efficiencies” to boost profitability.
“We will continue to lean into the implementation of efficiency initiatives in service of our bottom line. We fully intend to run a tight ship in AllHome in service of delivering better value for our stakeholders,” she said.
