Srinanaporn Marketing Public Company Limited (SET: SNNP) reported a net profit of THB 69.8 million for the second quarter of 2026, representing a 15.8% increase from the previous quarter. Despite this quarter-on-quarter recovery, the company faced a challenging macroeconomic landscape, with net profit and total revenue of THB 1,316.5 million falling 46.2% and 5.2% year-on-year, respectively. While the results highlight a period of transition, management successfully expanded margins through rigorous operational efficiencies.
Key Financial Highlights:
- Net Profit: THB 69.8 million (+15.8% QoQ, -46.2% YoY).
- Revenue from Sales: THB 1,316.5 million (+3.5% QoQ, -5.2% YoY).
- Gross Profit Margin: 26.8% (Up from 26.2% in 1Q26).
- Dividend Paid: THB 0.345 per share (Totaling THB 311 million).
The quarterly revenue growth was spearheaded by the overseas segment, which surged 8.8% to THB 278.3 million. Vietnam, the company’s largest international market, remains the primary growth engine due to stable operations and an expanded distribution network. Domestic sales also improved by 2.2% QoQ to THB 1,038.2 million, bolstered by seasonal demand for beverages and government stimulus measures such as the “Thai Chuay Thai Plus” program.
Management demonstrated strong defensive capabilities against rising input costs. Despite a spike in plastic prices due to geopolitical tensions in the Middle East, SNNP increased its gross margin to 26.8%. This was achieved through higher production utilization and supplier diversification. Furthermore, a strategic organizational restructuring led to an 8.1% reduction in administrative expenses compared to the previous quarter.
SNNP’s balance sheet remains active, with total assets of THB 5,891 million. Liabilities rose 5.7% to THB 3,388.2 million, primarily driven by increased bank borrowings. Earnings per share (EPS) stood at THB 0.08 for the quarter.
Looking ahead, SNNP is focusing on product innovation, recently launching new “Jele Jelly Soda” flavors exclusively for 7-Eleven. The company also continues to hit sustainability milestones, achieving its fifth consecutive Carbon Footprint for Organization certification, signaling a commitment to long-term ESG resilience.
The company’s board of directors has approved a dividend payment for the operating period from January 1 – June 30, 2026 at the rate of THB 0.16 per share. The ex-dividend date was set at August 24, 2026, with the payment date scheduled for September 8, 2026.
