HMPRO Reports a Decline of Profit in 3Q by 5% as Retail Business Enters Low Season

Home Product Center Public Company Limited (HMPRO) has reported its 3Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

HMPRO reported a net profit of 1,400 million baht in 3Q20, decreased 5.51% when compared to a net profit of 1,482 million baht in 3Q19.

Meanwhile. during the first nine months, the company’s total revenues and net profit were 45,740.09 million baht and 3,609.72 million baht, down by 9.41% and 18.49% respectively. The declining operating result over last year mainly due to the store closure in both Thailand and Malaysia in the second quarter. In addition, the third quarter is typically considered as the low season for retail businesses as it coincides with the rainy season.

The company stated that it did not open any new stores in the third quarter of 2020. As of the third quarter, the company operated 84 HomePro stores, 9 HomePro S stores, 14 Mega Home stores, and 6 HomePro stores in Malaysia.