CP Axtra Public Company Limited (SET: CPAXT), a leading wholesale and retail business under the “Makro-Lotus’s” brand, has reported second-quarter performance for 2024. The company achieved total revenue of THB 126,956 million, rising 4.4%, and a net profit of THB 2,176 million, rising 43.5% year-on-year (YoY). The impressive growth in the wholesale and retail businesses is driven by same-store sales growth (SSSG), especially the “Omni Channel,” underscoring the achievement of the company’s strategic objectives.
Mr. Tanin Buranamanit, Chief Executive Officer – CP AXTRA Public Company Limited, announced the operating results for the second quarter of 2024, highlighting continued growth with a net profit of over THB 2,176 million, an increase of 43.5%, and total revenue of THB 126,956 million, up 4.4% year-over-year. This performance reflects the strong wholesale and retail businesses, both domestically and internationally. A key driver of this success was same-store sales growth (SSSG), with omni channel sales growing to 17.2% of total sales, surpassing the company’s target. Revenue growth from new store openings, as well as rental and rendering retail services, also contributed to overall performance, with the occupancy rate reaching 93% by the end of the quarter. As a result of the strong Q2 performance, CPAXT recorded a net profit of THB 4,657 million for the first half of 2024, increasing 26.5% year-over-year.
In the second half of 2024, CPAXT will continue to drive growth according to its strategies, including:
1) Enhancing strengths in the fresh food & processed food segment: CPAXT will capitalize on its strengths in the food segment to develop fresh food, frozen food, ready-to-cook and ready-to-eat meals, and bakery. The company aims to differentiate itself and enhance profitability by increasing the sales of own brand products
2) Expanding sales growth across all channels: CPAXT aims to enhance sales especially through omni channel, focusing on offering diverse product choices, improving service quality, and expanding service areas. By leveraging Makro-Lotus’s network of over 2,600 branches nationwide as distribution centers and delivery points, the company plans to develop more salesforce teams to deliver comprehensive services to enterprise customers.
3) Expansion of new stores and refreshment: The company will continue to open new stores and refresh existing stores. Moreover, it will transform shopping centers into smart community centers that cater to the diverse lifestyles of customers in each area.
CPAXT proudly achieved a milestone in sustainable growth. Recently, the company received national and international recognition, including the “Industry Mover” award for achieving the highest increase in CSA Score 2023 within the Food & Staples Retailing industry, as noted in the S&P Global Sustainability Yearbook 2023. This award reflects the company’s outstanding sustainability performance compared to its industry peers. CPAXT has also been affirmed “AA-” credit rating from TRIS Ratings, highlighting the continued growth of its operating results, robust financial position, and commitment to sustainable business practices alongside Thai society. With adherence to Environmental, Social, and Governance (ESG) principles, CPAXT is committed to deliver long-term value for shareholders and investors.
