Srinanaporn Marketing Public Company Limited (SET: SNNP) has announced 1Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 1Q24 | 1Q23 |
| Net Profit (Loss)
Million Baht |
157.56 | 154.01 |
| Earning Per Share
(Baht) |
0.1600 | 0.1600 |
| % Change | 2.30 | |
SNNP reported a net profit of Baht 157.6 million in 1Q24, an increase of 2.3% compared to 1Q23, the growth was driven by the increase in overseas sales, the increase in demand for beverage products such as Jele Beautie and Magic Farm, and the start of production lines at the Vietnam factory, which now covers all three main brands including Bentot, Lotus, and Jele
Gross profit margin in 1Q24 was 29.5%, increased from 29.2% and 28.2% in 4Q23 and 1Q23, by 0.3% and 1.3%, respectively, due to effective managing of raw material and packaging costs according to the sustainability management policy in the supply chain, the increase in overseas sales with higher gross profit margin, and the economies of scale from expanded usage of production capacity in beverage production lines, aligns with the rising demand for the product.
Meanwhile, the company’s total revenue from sales was Baht 1,440.0 million, decreased 12.2% compared to 4Q23 and increased 1.4% compared to 1Q23. The decrease of sales was related to seasonality, which is at its peak in Q4, and declines in Q1, and gradually rises back to its peak in Q4.
