For Q1/2026, Thai Wah Public Company Limited (SET: TWPC) recorded consolidated revenue of THB 2,419 million, increasing 5.2% YoY, while net profit attributable to shareholders surged 71% to THB 121 million, compared to THB 71 million in the same period last year. For Q1/2026, the Company recorded consolidated revenue of THB 2,419 million, increasing 5.2%YoY, while net profit attributable to shareholders surged 71% to THB 121 million, compared to THB 71 million in the same period last year.
The strong performance highlights the tangible results of Thai Wah’s portfolio transformation, disciplined cost management, and continued expansion of its higher-margin Food business.
Key growth drivers continued to come from the Food business, particularly the strong and sustained expansion in Vietnam, alongside robust export growth across international markets. The Ready-to-Eat (RTE) product portfolio also continued to outperform expectations and is increasingly becoming an important long-term growth engine for the Company.
In parallel, the Starch business continued to support the Company’s overall volume growth in Q1/2026. Native tapioca starch volume grew strongly by 20.4% YoY, supported by continued strength in export markets, particularly China. Meanwhile, the Specialty Ingredients (HVA) portfolio recorded volume growth of 5.8% YoY, driven by broader application expansion and preparations for future capacity expansion to support long-term growth opportunities. Together, both businesses continued to strengthen TWPC’s more diversified and resilient earnings profile.
The Group’s effective cost control across the organization, particularly in Selling and Administrative expenses. The Company successfully reduced both selling expense-to-sales and administrative expense-to-sales ratios through tighter spending discipline and improved cost management efficiency, further supporting profitability improvement and strengthening overall earnings quality during the quarter.
In response to ongoing geopolitical uncertainties, including recent tensions surrounding the US-Iran conflict, Thai Wah has proactively implemented its Business Continuity Planning (BCP) and risk management measures to mitigate potential impacts on raw material costs and supply chain volatility. The Company has strategically secured key raw materials for approximately 9–12 months in advance, helping limit near-term exposure to market fluctuations and enhance cost visibility across operations.
These proactive measures reflect management’s continued focus on risk anticipation, supply chain resilience, and operational stability, positioning the Company to navigate future uncertainties with greater flexibility and preparedness.
“Based on the strong momentum in the first quarter, we remain confident in our ability to deliver double-digit revenue growth in 2026 as planned. Going forward, we will continue expanding our Food and Specialty Ingredients (HVA) businesses, strengthen our international customer base across Asia Pacific, Europe and emerging markets, while maintaining disciplined cost management and prudent risk management to support sustainable long-term growth,” Mr. Ho Ren Hua concluded.
