Thai Coconut Public Company Limited (SET: COCOCO) has announced its 2023 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Year | 2023 | 2022 |
| Net Profit (Loss)
Million Baht |
539.68 | 306.67 |
| Earning Per Share
(Baht) |
0.4400 | 0.3400 |
| % Change | 75.98 | |
COCOCO reported a net profit of Baht 539.68 million, an increase by Baht 233.01 million or an increase by 75.98 % compared to the previous year, because of the company’s increased sales revenue from expanding the international market, especially from increased sales of coconut water products in China.
The company has a total income of Baht 4,679.74 million, which is an increase by 38.17% compared to the previous year due to the growth of foreign sales both in Asia and other regions, especially income from the increased sales of coconut water products sold to China and increased income from the company can expand marketing channels mainly to oversea countries.
The company’s gross profit margin from revenue from sale of goods and service in 2023 increased by 26.21% compared to the previous year of 23.85%, which is in line with increased revenue from sale of goods, especially coconut water products, whose sales have grown significantly. Resulting in an increase in the capacity utilization rate and the creation of the Economy of Scale.
The company has the cost of sales in 2023 equal to Baht 3,424.10 million, an increase by Baht 891.13 million or an increase by 35.18% compared to the previous year, which corresponds to increased sales revenue. However, the proportion of sales costs decreased from 75.99% to 73.83% of sales revenue due to an increase in production capacity utilization rate, and continuous management of production costs, such as efficient production planning, reducing losses arising from the production process, and controlling the price of raw materials to reach the expected targets, etc. Currently, the company is also considering reducing costs in other parts, such as the solar rooftop installation project to save on energy costs.
