Thai Coconut Public Company Limited (SET: COCOCO) has announced its 2Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2Q24 | 2Q23 |
| Net Profit (Loss)
Million Baht |
227.13 | 131.14 |
| Earning Per Share
(Baht) |
0.1500 | 0.1200 |
| % Change | 73.19 | |
| 6 Months | 2024 | 2023 |
| Net Profit (Loss)
Million Baht |
430.64 | 198.23 |
| Earning Per Share (Baht) | 0.2900 | 0.1800 |
| % Change | 117.24 | |
COCOCO reported a net profit in 2Q24 of 227 million baht, an increase of 96 million baht or increased by 73% compared to the same quarter of the previous year. Moreover, this net profit increased by 23.51 million baht or increased by 11.54% compared to the previous quarter.
The company reported that total revenue was 1,588.06 million baht in 2Q24, representing a growth of 40.48% compared to the same quarter of the previous year, and a growth of 13.63% compared to the previous quarter. This increase was mainly from higher revenue from sales and services of coconut water products.
Gross profit margin from sales and services for the second quarter for the year 2024 was 27.59%, a decrease compared to 33.83% in the same quarter of the previous year but an increase from 26.66% in the previous quarter.
For the first six months for the year 2024, the company had a net profit of 430 million baht, an increase of 232 million baht, or increased by 117% compared to the same period of the previous year. This increase is due to the growth in international sales in line with market demand, and the company’s ability to control production costs and manage distribution and administrative expenses efficiently.
Total revenue in 6M24 stood at 2,978.33 million baht, representing a growth of 49.50% compared to the same period of the previous year. This increase was from the growth in sales and services revenue from the group of beverage products. In addition, the company can expand the distribution channels, which incur an increase in sales and service revenue in all product categories, especially coconut water products, coconut milk products, and the growth of pet food products.
The company’s gross profit margin in 6M24 was 27.16%, an increase compared to 25.65% in the same period of the previous year, in line with the increase in sales and service revenue. Additionally, the company can manage costs more efficiently, controlling the cost of sales and services.
