ICHI 9M-Profit Skyrockets over 11 Times, Reaching ฿323m!

Ichitan Group Public Company Limited (ICHI) has reported its 3Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

ICHI posted a net profit in 3Q19 at 72.6 million baht, increased 206% from a net profit of 23.7 million baht in 3Q18. The increase was mainly due to the earnings from share profit of investment in the joint venture in the quarter of 1.2 million baht, compared to a net loss of 11.6 million baht in the same period of last year. Meanwhile, the total expenses decreased by 154 million baht or 14.4% from 1,222 million baht in 3Q18 to 1,068 million baht in 3Q19.

Domestic sales increased by 8.3% due to improving marketing activities strategy and the ability to distribute products to the traditional trade market more.

Moreover, ICHI’s 9-month profit had risen over 10 times to book a profit at 323.60 million baht, compared to a net profit of 26.25 million baht in the same period of last year.