MAKRO’s 3Q Profit Expands 6%, Owing to a Growth of Domestic and International Stores

Siam Makro Public Company Limited (MAKRO) has reported its 3Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

In 3Q20, MAKRO reported its consolidated net profit of Baht 1,572 million, grew by 6.1% YoY, owing to a decent growth of Makro Thailand and an improvement of Makro International.

 

MAKRO registered consolidated total sales of Baht 52,925 million, an increase of 6.2% YoY, driven by the 6 new stores opened during the past 12 months and a decent growth of Makro Thailand owing to its continuous store format development, service enhancement with the O2O platform and e-payment, and a dedication in tailoring products to specific needs of target customers. 

 

Makro International recorded a significant YoY growth in sales. This was attributed to sales leaps of LOTS in India and Makro Cambodia, in addition to additional contributions from a newly opened Makro store in Myanmar. 

 

Contrarily, the COVID-19 pandemic and the subsequent tourism disruption have taken a toll on the Food Service APME. Though sales bottomed-out in the previous quarter, YoY comparison showed a significant contraction driven by persistent large-scale shutdowns of airlines, hotels, and restaurants, which were core customers of Food Service APME. When aggregating revenue from rendering of services and other income of totaling Baht 1,150 million, MAKRO posted total revenues of Baht 54,075 million, rose by 6.1% YoY.