Home Product Center Public Company Limited (SET: HMPRO) has announced 1Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 1Q24 | 1Q23 |
| Net Profit (Loss)
Million Baht |
1,712.84 | 1,611.12 |
| Earning Per Share
(Baht) |
0.1300 | 0.1200 |
| % Change | 6.31 | |
HMPRO reported a net profit in 1Q24 of Baht 1,712.84 million, representing an increase of Baht 101.72 million or up 6.31% as compared to the previous year, mainly due to an increase in total revenues.
The company recorded a total revenue of Baht 18,787.58 million, an increase of Baht 535.71 million or up 2.94% compared to the same period last year, comprising of the following:
Revenue from contracts with customers which comprised product sales revenue and service income of Home Service was Baht 17,663.83 million, representing an increase of Baht 440.36 million or up 2.56% year-over-year. The growth was primarily driven by higher revenue recognition of both HomePro and Mega Home business. This increase was further bolstered by the implementation of the government’s economic stimulus package, Easy E-Receipt, which ran from January 1st to February 15th, 2024. Additionally, the company enhanced sales growth during the first quarter through a variety of promotional activities across stores and online channels.
Other income was Baht 672.91 million, an increase of Baht 121.50 million or up 22.03% compared to the same period of the previous year, as a result of expanded promotional activities with vendors, implemented both in stores and through online channels.
Meanwhile, rental and service income amounted to Baht 450.83 million, a decrease of Baht 26.16 million or down 5.48% compared to the previous year. This decrease was due to the cancellation of HomePro Expo, which was typically held at Impact Muang Thong Thani in March. Instead, the company held HomePro Super Expo In April through both physical stores and online channels.
Gross profit from product sales and service income of Home Service was Baht 4,635.33 million, an increase of Baht 142.87 million or up 3.18% as compared with the prior year. The percentage of gross profit increased from 26.08% to 26.24%, which was attributed to the better product mix toward high-margin products, efficient cost control, and discounts given by vendors across both HomePro and Mega Home business.
