ICHI unveils Q2 net profit 136.8 Million Baht growth 550% on domestic recovering, Ichitan Indonesia in bright prospects

Stocks and Financial Services Press Releases Thursday August 15, 2019 13:50
Bangkok--15 Aug--IR PLUS

ICHI show Q2/2019 outstanding performance as targeted make a net profit of 136.8 million baht, grow 550% from the same period last year. As for the income at 1,645,1 million baht, grow 23.4%, receive the promotion for the group campaign, only during the high season has been accepted, supporting sales growth and product distribution effectively.

Shizuoka brand becoming the number one premium green tea in Thailand, reflecting the image of Ichitan and the cooperation with Japan is successful, while the domestic tea market overview is recovering.

The export market is a positive factor supporting the growth of Ichitan in the second half of the year. Ichitan Indonesia is projected financial to be positive for the second quarter of this year. The loss will reduce to 4.8 million baht.

Tan Passakornnatee, President & CEO of Ichitan Group Public Company Limited (ICHI), revealed that the Q2/2019 results showed a net profit of 136.8 million baht, an increase of 550% compared to the same period last year, accounted for (30.4) million baht and 19.8% increase compared to the first quarter of 2019 with a net profit of 114.20 million baht. Revenue from sales was at 1645.1 million baht, increased by 23.4% compared to the same period. The previous year 1,333 million baht.

Resulting in the first six months of this year Ichitan had a net profit of 251 million baht, an increase of 9,940% compared to 2.5 million baht in the same period last year. Revenue from sales was 2,964.5 million baht, an increase of 11.7% compared to the same period the previous year was at 2,654.5 million Baht.

The success according to the strategy laid down both in product management marketing activity planning to reach new target groups of each product, Followed by the strategy of accessing small retail stores across the country through the campaign "Ichitan Cartons" to stimulate the traditional trade market and the expansion of dealers from DKSH, resulting in Ichitan distributing products that more efficient and have increased market share.

In addition Shizuoka green tea has reached number 1 in premium tea market since April. With the attribute of 100% tea leaves imported from Japan in order to create value and authentic experience for premium tea drinkers in Thailand. The premium tea market has gained prominent expansion with 30.7% growth and the growth has continued for 3 consecutive years, reflecting the healthy trend for consumer's lifestyle.

Subsidiaries of Ichitan Group, Ichitan Indonesia's realized a loss of less from 55 million baht in the first quarter of 2019, leaving loss 4.8 million baht in the second quarter of 2019 and looking at a good trend in the second half of the year. The product has accepted and better brand awareness.

At the end of June 2019, the RTD tea market size in Thailand has grown by 5.5%, in terms of sales value and 3.7% growth for sales volume with 6,439 million baht Market worth, while premium tea has accounted for 10.5%. The proportion of total tea market value by green tea ready to drink "Shizuoka" has 30.5%, An opportunity to expand the market in Thailand, including plans to penetrate the CLMV and China markets in the second half of the year.

In the second quarter of this year, the proportion of exports was 27% of the total sales. Therefore, confident this year's revenue target will grow 12% from the previous year with revenue of 5,216.2 million baht as planned.

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