Srinanaporn Marketing Public Company Limited (SET: SNNP) reveals Q2/24 performance with total revenues reaching 1,512.5 million baht, net profit* 162.2 million baht, resulting from strong sales of main products and new products, and the board of directors approved the interim dividend payment in cash at the rate of 0.25 baht per share, the Record Date shall be on August 23, 2024, and the payment on September 6. Mr. Wiroj Wachiradechkul, the executive, is confident that the revenues and performance trends in 2024 continue to grow continuously from the strength of the main product brands and the launch of new products in the second half of the year, including entering the high season in the fourth quarter, along with the government’s digital wallet project stimulating the consumption of the Company’s products admirably.
Mr. Wiroj Wachiradechkul, Senior Executive Vice President Domestic Business, Srinanaporn Marketing Public Company Limited (SNNP), a leader in beverage and snack products in Thailand, reveals the overall operating results for the second quarter of 2024 that the Company had a total revenues of 1,512.5 million baht, an increase of 31.8 million baht or 2.2% compared to the same period last year, which had a total revenues of 1,480.7 million baht and a net profit* of 162.2 million baht, an increase of 5.5 million baht or 3.6% from the same period last year, which had a net profit* of 156.7 million baht.
For the first 6 months period of 2024, the Company had a total revenues of 2,970.2 million baht, an increase of 62.1 million baht or 2.1% compared to the same period of the previous year, which had a total revenues of 2,908.1 million baht and a net profit* of 319.8 million baht, an increase of 9.1 million baht or 2.9% compared to the same period of the previous year, which had a net profit* of 310.7 million baht.
The overall performance that had continuously grown was from sales of main products such as “Jele” and “Bento”, including the launch of new products to the market in the first half of the year, which had been very well responded, including Jele Fresshy: watermelon flavor, Lotus crispy chicken skin: 2 new flavors ” Larb” and “Hatyai-style chicken”, Bento Max; 3 new flavors “Songkreang”, “Prungros” and “Larb”, a group of supplementary products under the brand “Jele Fitt” in the form of fruit-flavored jelly and Magic Farm Fresh Kombucha, supporting sales growth without a doubt.
Besides, the Board of Directors’ Meeting No. 06/2024 resolved to approve the payment of interim dividends to shareholders in cash at the rate of 0.25 baht per share, totaling approximately 240 million baht, and the Record Date of shareholders entitled to receive dividends shall be on August 23, 2024, and paid the dividend payment date on September 6, 2024.
“For the performance trend in the second half of the year, the Company estimates that it shall grow more than the first half of the year following the strength of the core product brands, the Company plans to launch new products in both domestic and international markets as well as to expand its customer base abroad. In addition, the 4th quarter will be the high season. The supporting factor, from the 10,000 baht digital wallet project distributed to approximately 50 million people by the government to spend, shall stimulate the economy at the end of the year. It will be a positive factor for SNNP in the 4th quarter of 2024 supporting sales in the beverage and snack groups strongly, thus, the total sales of this year to grow even more. In terms of the long run, the Company has a strategy to expand the market abroad, both in the form of sending products for sale and co-marketing, including appointing distributors to support long-term growth,” concluded Mr. Wiroj.
*Net Profit attributable to Owners of the parent
