Jaymart Group Holdings Public Company Limited (SET: JMART) delivered a resilient start to 2026, reporting a net profit of THB 162.7 million, representing a 16% increase year-over-year. Total revenue grew 4.5% to THB 3,894.6 million, driven by a robust performance in its core mobile retail division and strong contributions from key associates.
Key Financial Highlights
- Net Profit: THB 162.7 million (+16.0% YoY)
- Total Revenue: THB 3,894.6 million (+4.5% YoY)
- Gross Profit Margin: 29.7% (vs. 29.3% in Q1/2025)
- Debt-to-Equity Ratio: 0.73x (down from 0.78x)
The group’s best performer was Jaymart Mobile, which saw net profit skyrocket 159% to THB 57 million. This growth was fuelled by the “Lock Phone” initiative, a synergistic financing model that expanded the loan portfolio rapidly across 329 branches. Similarly, associate Suki Teenoi continued its aggressive expansion, posting a 32% revenue jump to THB 2,588 million.
Conversely, the debt management arm, JMT, acted as a laggard. Net profit fell 23.6% to THB 252.2 million as a sluggish Thai economy and high household debt levels slowed collections, forcing the company to set aside higher credit loss provisions.
The quality of earnings was impacted by non-cash accounting items. The bottom line was weighed down by a THB 66.2 million loss in investment property fair value, primarily due to the natural “time decay” of land leasehold rights. However, core operations remained healthy, with the gross profit margin improving to 29.7%.
Jaymart demonstrated disciplined liquidity management by redeeming THB 2,175.7 million in debentures on schedule in May 2026. The group’s interest-bearing debt-to-equity ratio improved to 0.65x, reflecting a commitment to de-leveraging.
Additionally, the Board of Directors approved a dividend payment of THB 0.135 per share to be paid on 12 June 2026. The ex-dividend date is 27 May 2026.
