Higher Domestic Sales Drive ICHI’s 3Q Profit Up 69% to ฿122Mn

Ichitan Group Public Company Limited (ICHI) has reported its 3Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

In 3Q20, ICHI earned net profit of 122.9 million baht, increasing 69.3% YoY, mainly due to an increase of domestic sales revenue, together with a decline in cost of sales and distribution costs.

 

ICHI had earned total sales revenue of 1,222 million baht, increasing 7.6% YoY, in regard to domestic sales increased by 23.9% because of launched new product category and improving market activities strategy, while export sales decreased by 35.7% as a result of Covid-19 pandemic in foreign countries.

 

Cost of sales was 981 million baht or 80.3% of sales, while in 3Q19, it was 931.4 million baht or 82% of sales. Meanwhile distribution cost was 63.8 million baht equivalent to the ratio of distribution of 5.2%, which decreased 8.0% YoY because of an effective promotion budget planning.