Srinanaporn Marketing Public Company Limited (SET: SNNP) has reported exceptional performance in Q1/24, with earnings over 1,457 million-baht, and profits soaring to 158 million baht. The success is attributed to new product launches, including beverages and snacks, in the market. Mr. Wiroj Wachiradechkul, SNNP’s Executive, revealed that typically, the first quarter is a low season for businesses, coupled with an economic situation that hasn’t recovered significantly. However, SNNP can still achieve growth in numbers compared to the previous year. This growth is driven by the continuous development of new products and proactive market penetration, both domestically and internationally.
Mr. Wiroj Wachiradechkul, Senior Executive Vice President of the Domestic Business Division at Srinanaporn Marketing Public Company Limited (SNNP), has revealed that the company’s overall performance in Q1/24 (ending March 31, 2024) showed a total income of 1,457 million baht, up 30 million baht or 2% compared to the same period last year. The net profit amounted to 158 million baht, up 4 million baht or 3% compared to the same period last year.
The factors supporting the continued growth in both domestic and international sales stem from several key products, including “Jele” and “Bento,” as well as the introduction of new products to the market at the beginning of the year. These new products include Jele Fresshy in a watermelon flavor, Lotus Crispy Chicken Skin with two new flavors, “Larb and Hat Yai style fried chicken flavors,” and Bento Max with three new flavors, “Sweet & Spicy, Hot & Spicy, and Spicy Larb.” Furthermore, new products in the supplementary category under the brand “Jele Fitt,” in the form of fruit-flavored jelly, have been launched. This has generated significant excitement and has strongly supported sales growth.
While in the first half of 2024, the Company is confident that the trend of product sales will increase significantly. According to the tourism sector that is very bustling during Songkran festival, including SNNP also launching new summertime products to the market with Jele Beautie 2 new flavors “Fiber Formula and Kombucha Flavor” and Magic Farm Fresh 2 new flavors “Coconut juice” and “Honey-Lemon Green Tea” quenching thirst on scorching days. Make a significant rise in sales.
In addition, SNNP also has guidelines for expanding overseas markets such as sending products to sell, participating in marketing in such countries, and appointing distributors to further support long-term growth.
In terms of Marketing communication plan, the Company intends to aggressively communicate through all channels both offline and online, such as commercial films and KOL / influencers, supporting through concert activities, including organizing roadshows to distribute products, in order to reach out to consumers and increase brand awareness.
“For the 2024 business plan, SNNP continues to create awareness and promote the consumption of products, including the release of new products both beverages and snacks continuously. The Company also plans to expand the market to foreign countries apart from Vietnam, which is the main country. We still see opportunities to market in other countries, such as the Philippines, Korea, and China, etc., The Company is confident that this year’s sales will continue to grow steadily according to the business plan,” Mr. Wirot said finally.
