MALEE's Q2/216 net profit jumped 74% YoY. Annual sales target will be achieved.
15 August 2016
Ms. Roongchat Boonyarat, Chief Operating Officer of Malee Group Public Company Limited (“MALEE” or the “Company”) discloses MALEE’s Q2/2016 operating results that ”The Company and its subsidiaries recorded sales revenue of Baht 1,751 million which is the highest record quarterly sales since establishment and operation in 1978, with sales growth of 39% YoY. Net profit was Baht 143 million, an increase of 74% YoY. For the first half of 2016, the group recorded sales revenue of Baht 3,293 million, an increase of 29% YoY, with net profit of Baht 252 million, an increase of 51% YoY.”
“In Q2/2016, sales growth was supported by sales increase both in Branded Business (Brand) and Contract Manufacturing Business (CMG), both of which rose domestically and internationally. Export sales grew as high as 76% YoY, thus the proportion of exports to total sales increased to 37%, corresponding to the Company’s strategy to expand business in overseas. Meanwhile, Monde Malee Beverage Corporation (MMBC), a joint venture business of the Company in the Philippines, launched its first product RTD Coffee in late Q1/2016 and already had the product on shelves of convenience stores in late Q2/2016. With strategies to increase sales and control costs, the group’s sales and earnings rose remarkably.”
“The Company is committed to new product launches and attractive campaigns to boost sales and strengthen Malee Brand domestically. In the beginning of Q3/2016, the Company launched new 100% juice products with one campaign “The Caring Message”, through the compassionate of Thai farmers from growing fruits with care until passing them to consumers, in order to create distinctiveness of Malee Brand fruit juices from its competitors. The new campaign started from selection of the finest planting area for the three fruit juices including tangerine from a group of farmers in Mae Sin District, Sukhothai Province; mulberry from the Queen Sirikit Sericulture Center, Nan Province; and Nanglae pineapple from Community Enterprise, Chiang Rai Province. Overseas business is still one of the Company’s main growth strategies as the Company aims to expand its Branded Business in ASEAN countries, e.g., Philippines, Myanmar and Cambodia as well as China, by selecting products to suit each local market.”
“The Company is confident that sales growth will be sustainable and the annual sales target of 20% (revised up from the previous target of 15%) will be achieved in the remaining of the year since CMG Business is tending to grow continuously, and Branded Business is projected to expand steadily both in Thailand and internationally.”