Srinanaporn Marketing Public Company Limited (SET: SNNP) has announced its 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss) Million Baht |
163.32 | 160.07 |
| Earning Per Share (Baht) |
0.1700 | 0.1700 |
| % Change | 2.03 | |
| 9 Months | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
483.12 | 470.74 |
| Earning Per Share (Baht) | 0.5000 | 0.4900 |
| % Change | 2.63 | |
SNNP reported Net profit in Q3/2024 of Baht 163.3 million, an increase of Baht 1.1 million or 0.7% compared to Q2/2024 and increased by Baht 3.2 million or 2.0% compared to Q3/2023. The earnings per share in Q3/2024 were 0.17 Baht.
The revenue from sales for Q3/2024 was Baht 1,389.5 million, a decrease of Baht 115.9 million or 7.7% compared to Q2/2024 and a decrease of Baht 96.4 million or 6.5% compared to Q3/2023.
Despite the declining revenue, the company was able to widen its net profit margin during the quarter, increasing from 10.7% in Q3/2023 to 11.9% in Q3/2024.
The Company continues to achieve domestic sales targets, whereas overseas sales had declined due to the rearrangement of distribution for sustainability in Vietnam to achieve sustainable growth and maximize sales efficiency in Vietnam, which started in Q2/2024 until now, such improvement process is expected to be finished in Q1/2025.
The Company’s gross profit in Q3/2024 was Baht 417.0 million, a decrease of Baht 18.6 million or 4.3% compared to Q2/2024 and decreased by Baht 11.3 million or 2.6% compared to Q3/2023, whereas the gross profit margin increased by 1.1% from 28.9% to 30.0% compared to Q2/2024 and increased by 1.2% from 28.8% to 30.0% compared to Q3/2023, from the effective management of raw material and packaging costs in accordance with sustainable supply chain management policies, as well as the increased utilization of production capacity for seasonal sales and enhanced efficiency in the product manufacturing process.
In summary, the increase in gross profit and net profit results from systematic and concrete cost management, including the implementation of sustainable supply chain management in the procurement process, the application of sustainable development principles throughout the entire process from production to delivery to customers, as well as management in the back office. This comprehensive management approach has led to an increase in the gross profit margin and net profit margin and further sustainable growth.
