Exotic Food Public Company Limited (SET: XO) has announced its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Yearly | 2021 | 2020 |
| Net Profit (Loss) Million Baht |
462.30 | 318.48 |
| Earning Per Share (Baht) | 1.09 | 0.75 |
| % Change | 45.16 | |
XO reported a net profit of Baht 462 million in 2021, increased 45% from a net profit of Baht 318 million in 2020. The increase was mainly due to an increase in revenue from sales and gross profit margin.
In 2021, the company’s revenue from sales was Baht 1,524.54 million, which increased to Baht 256.88 million or 20.26% when compared with the revenue from sales in 2020. Such an increase stemmed from higher numbers of retail stores that managed to sell the company’s products.
Gross profit margin increased from 40.59% in 2020 to 44.83% in 2021. This is because the customers’ purchase orders had increased, and as a result, the overall capital utilization was higher. Therefore, XO achieved the economy of scale. Moreover, the company also managed to increase the proportion of sales of products that have higher gross profit margin.
In addition, the Board of Directors approved a dividend payment of THB 0.41 per share to be paid on 12 May 2022. The ex-dividend date is 7 March 2022.
