ICHI First-Quarter Earnings Fall 15% on Slowdown in Export Sales

Ichitan Group Public Company Limited (SET: ICHI) has reported its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 1Q22 1Q21
Net Profit (Loss)
Million Baht
103.93 121.58
Earning Per Share
0.08 0.09
% Change 14.5

In 1Q22, ICHI has earned net profit of THB103.9 million or equivalent to net profit margin of 7.2%, as compared to the same period of previous year that earned net profit of THB121.6 million or equivalent to 9.4% of sales revenue, as a result net profit decreased by 14.5% from the same period of previous year.

Sales revenue for the period was THB1,442.3 million, increasing by 12.0% from the same period of previous year that had earn at THB1,287.8 million. Sales revenue increased by 154.5 million baht on the back of domestic sales increased by 17.5% of RTD tea, on the other hand export sales decreased by 23% because of the economic slowdown in partner trading countries.