CBG Jumps 6% after Reporting a 90% Profit Growth in 1Q20 from Higher Sales

The share price of Carabao Group Public Company Limited (CBG) jumped ฿4.75/share or 6.09% to ฿82.75/share in the morning session after reporting an outstanding profit growth in 1Q20.

 

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

CBG reported a net profit of 800 million baht in 1Q20, increased 90.96% when compared to a net profit of 419 million baht in 1Q19.

Total revenue from sales were 4,061 million baht, an increase of 700 million baht or 20.8% driven by higher sales of the energy drinks especially for export markets and greater sales growth from distribution of 3rd party’s products.

Sales of branded products by own manufacture were 3,414 million baht,up by 487 million baht or 16.6%. The amount consisted of domestic and overseas sales at the proportion of approximately 37:63, respectively. The overseas sales of branded products by own manufacture grew by 30.0% offsetting the drop of 1.0% in the domestics. According to Nielsen’s final sales data to consumers,the market volume of the energy drink industry in Thailand showed a sluggish growth at 0.7% while Carabao Dang energy drink remained the 2nd largest brand, commanding 21.4% volume share.