Home Product Center Public Company Limited (SET: HMPRO) has announced its 2Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
HMPRO reported a net profit of THB 1,621.70 million for Q2 2024, an increase of THB 1.83 million or 0.11% compared to the same period last year.
Total revenue amounted to THB 18,535.25 million, a decrease of THB 367.42 million or 1.94%. Revenue from contracts with customers, which includes revenue from the sale of goods and revenue from Home Service, amounted to THB 17,398.18 million, a decrease of THB 390.66 million or 2.20% compared to the same period last year. The decrease in revenue was caused by the slowdown in domestic consumption due to the low growth rate of the economy, the early arrival of rainy season in Thailand in May, the cancellation of the HomePro Fair in Chiang Mai in Q2, and the road construction in front of the HomePro Ratchaphruek, which reduced customer traffic to the store.
Selling and administrative expenses amounted to THB 3,339.66 million, a decrease of THB 126.61 million or 3.65% compared to the previous year. The SG&A as a percentage of sales was 19.20%, down from 19.49% in the previous year. The decreased expenses include pre-operating expenses and utility costs, while the increased expenses include credit card fees and repair/maintenance costs.
