BEAUTY Expects Full-Year Revenue to Reach ฿2.2bn, Offering ฿0.035 Interim Dividend
Mr. Suwin expects full-year revenue at ฿2.2bn, mainly from Chinese consumers as BEAUTY’s products are very popular among the Chinese and other countries in Asia.
Beauty Community Public Company Limited (BEAUTY) has reported a revenue of THB 1,080.3 million for the first half of the year with a net profit of THB 116.3 million in the half.
Mr. Suwin Kraibhubes, Chief Executive Officer of BEAUTY, saw a potential for a better performance in the second half of the year as the company will recognize revenue from the adjustment of its business strategy overseas while aiming to expand domestic retail business. The development of eCommerce will increase its sales through other channels.
The company had lower revenue in the second quarter of 2019 to record at THB 531.6 million, decreased 3.1% from a revenue of THB 548.7 million in the second quarter of 2018. Meanwhile, the net profit was THB 46.8 million, decreased 32.8% from the same quarter of last year.
The decrease in revenue was due to many channels, such as the effect from a decreased number in Chinese tourists, the effect from new implemented laws in China on the main market in early 2019 and yuan currency falling relative to Thai baht with the current economic slowdown.
Meanwhile, domestic consumption has not recovered and consumers had lower purchasing power and heavily competitive in cosmetic business market. In the matter of organizing promotions to boost sales, to compete for market share from the existing competition and new competitor that are increasing. Moreover, the second quarter is still in the low season of the company as well.
Mr. Suwin also forecasted a full-year revenue at THB 2,200 million, mainly from Chinese consumers as BEAUTY’s products are very popular among the Chinese and other countries in Asia. Moreover, the Board of Directors had approved an interim dividend of ฿0.035/share, XD August 27. The payment date will be on September 9.