On Wednesday (11:44 AM Thailand time), the share price of Royal Plus Public Company Limited (SET: PLUS) increased by THB 0.12 or 4.14% to THB 3.02 per share, with a trading value at THB 1.66 million.
Mr. Phonsaeng Saebe, Managing Director of PLUS, stated that the overall performance in the second half of this year is moving in a positive direction. Especially, the US market—which is the main market for PLUS—continues to follow the seasonal trend, with the second and third quarters typically considered the high season.
The Chinese market, as a secondary market after the US, is also expected to see increased orders from both new and existing customers, along with opportunities to receive large-scale orders from customers in China.
Regarding the U.S. import tariffs, which have been raised to 19% for products imported from Thailand, PLUS is working closely with U.S. customers on pricing structures and cost management. Therefore, the company is confident that there will be no impact on retail prices or the sales volume of PLUS.
Additionally, PLUS has secured long-term contracts with established customers. This year, the company also introduced co-branded products in partnership with U.S. allies. Furthermore, new products in the 100% coconut water category will soon be available through Walmart channels. As a result, it is expected that in 4Q25, revenue recognition will become more apparent and will help drive sales growth in the U.S. market this year significantly.
Regarding the appreciation of the Thai baht, PLUS has implemented the following strategies: 1) diversifying its portfolio by selling in various currencies such as the US dollar, Thai baht, yuan, and euro; 2) entering into forward currency contracts (Forward Contract) in line with advance orders; 3) matching revenue with expenses; and 4) opening FCD (Foreign Currency Deposit) accounts for direct expenditure in the relevant currency.
As for coconut price volatility, prices have been rising since early this year but began to show signs of declining in 2Q25, continuing into 3Q25. This is expected to support improvement in the PLUS’s gross profit margin in the second half of the year. Meanwhile, the ongoing conflict in the Middle East has resulted in higher logistics and shipping costs, slowing purchasing power, but the company is nevertheless accelerating customer expansion in that region.
Mr. Phonsaeng further stated that PLUS participated in four trade exhibitions recently, which helped create continuous opportunities and increase orders. Several orders currently received resulted from past exhibitions, with some shipments already made and repeat orders received.
In the second half of the year, PLUS will continue to exhibit at trade fairs, offering further brand exposure. In September, PLUS will attend Fine Food Australia 2025, one of Australia’s largest B2B food and beverage trade events, to showcase products, expand its customer base, and raise broader brand awareness.
In October, PLUS will join Anuga, the world’s largest food and beverage trade fair. Additionally, in Vietnam, the company will participate in the Hyperion Annual Customer Event 2025, an annual customer engagement activity, which will help the company build relationships and better understand developments in that market.
