ICHI’s 1Q Profit Boosts 39%, Enhancing by Domestic Sales

Ichitan Group Public Company Limited (ICHI) has reported its 1Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

ICHI reported a net profit of 159.2 million baht in 1Q20, increased 39.35% when compared to a net profit of 114.24 million baht in 1Q19 mainly due to a decreasing distribution costs and share of profit of investment in joint venture. Meanwhile a sales revenue increased by 2.6% YoY to 1,285.4 million baht as export sales fell 18.4% amid economic slowdown in abroad and covid-19 epidemic, however domestic sales increased 5.0% as conducting marketing activity which reached to the target group.

 

In 1Q20, ICHI had share of profit of investment in joint venture equal to 8.4 million baht, making a turnaround from loss in 1Q19.