“Home Product Center (HMPRO) Reports 9.47% Increase in Total Income for Q1 2023”

Mr. Virapan Angsumalee, Managing Director of Home Product Center Plc. (HMPRO), revealed the operating results for the first 3 months of the year 2023, the company had a net profit of 1,611.12 million baht, an increase of 100.18 million baht or 6.63% compared to with the same period last year. and had a total income of 18,251.87 million baht, an increase of 1,579.35 million baht or 9.47%.

The main factor is income from contracts with customers. Consisting of revenue from sales of goods and income from customer service (Home Service) totaling 17,223.47 million baht, an increase of 1,462.53 million baht or 9.28% compared to the same period last year.

The increase in operating results comes from the overall picture of the Thai economy tending to expand. The main factor is the recovery of the tourism sector. As a result, the consumption of refurbishment products in the region related to the tourism business has a much higher growth rate than other regions. In addition, the government has issued measures to stimulate people’s spending, such as the Shop Dee Mee Return measure. causing private domestic consumption to increase which is a positive factor that affects the overall sales of the Company growing higher both in the branch and online

As for the gross profit from sales of goods and customer service (Home Service), the total amount was 4,492.46 million baht, an increase of 395.81 million baht or 9.66% compared to the previous year. The gross margin per sales increased from 25.99% last year to 26.08% as a result of the change in the mix of high-margin products.

However, in the first quarter of 2023, the company has continuously organized promotional activities. with HomePro Expo 2023 and Double Day activities, including other promotional activities through branches and online channels Therefore, more discounts are offered to customers. Including the company There is also an increase in revenue from services. which has a lower gross margin than revenue from sales of products As a result, the overall gross margin grew slightly at 0.09%.

However, the company still has rental income of 476.99 million baht, an increase of 66.08 million baht or 16.08% from the previous year as a result of the collection of rental income from rental spaces in HomePro branches and Market Village shopping centers. more Especially in the tourist areas, including the southern area. compared to the same period last year In addition, branch expansion continues to proceed as planned. At the end of Q1/2023, the company had 87 HomePro stores, 5 HomePro S stores, 21 Mega Home stores and 7 HomePro stores in Malaysia.

“However, during the first quarter, the company continued to face pressure from rising costs such as electricity and utilities. Expenses for opening new stores, repair expenses, marketing and promotion expenses and the volatility of financial markets. This has resulted in higher interest rates as well. But these factors have pushed the company. Supervised Develop concise business plans and strategies in various fields to reduce rising costs, such as installing solar rooftops at additional branches, etc. Mr. Veeraphan said

By InfoQuest News Agency (26 Apr. ’23)

Tags: HMPRO, Weeraphan Angsumalee, Home Product Center