Ichitan Group Company Limited (SET: ICHI) has announced its 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss) Million Baht |
357.25 | 328.01 |
| Earning Per Share (Baht) |
0.2700 | 0.2500 |
| % Change | 8.91 | |
| 9 Months | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
1,099.89 | 805.30 |
| Earning Per Share (Baht) | 0.8400 | 0.6200 |
| % Change | 36.58 | |
ICHI reported a net profit in Quarter 3/2024 and Quarter 3/2023 earned 357.3 million baht and 328.0 million baht, or accounted for the net profit margin to sales revenues of 16.7% and 15.8% respectively. As a result, this period’s net profit increased by 29.3 million baht or equal to 8.9%.
This is likely due to the reduction in distribution costs from 83.3 million to 70.3 million and financial costs from 0.5 million to 0.4 million. Despite these cuts, administrative expenses increased from 35.8 million to 42 million, while the share of profit from the joint venture was reduced from 1.6 million to 0.9 million.
For the periods of 9M/2024 and 9M/2023, the Company earned net profit of 1,099.9 million baht as compared to the same period of the previous year that earned 805.3 million baht. As a result, this period’s net profit increased by 294.6 million baht or equivalent to 36.6%
In the 3Q24 Revenue, the Company had sales revenue of 2,141.9 million baht, which increased by 85.3 million baht from the same period of previous year that earned sales revenue of 2,076.6 million baht, resulting from domestic sales increased by 6.5% from the growth of the ready-to-drink tea, herbal tea and alkaline water, export sales decreased by 36.0% due to the appreciation of the baht and the problems of the domestic purchasing power of trading partners.
