RS Public Company Limited (SET: RS) registered its first quarter profit at 55 million baht this year from the total revenue of 845 million baht, or a 15% growth from the previous quarter. To date, the Entertainmerce model has shown its promise, while its media business had also recovered with plans to organize many major events and concerts, including K-Pop event in the second half of the year, to ensure vertical and horizontal growth. Meanwhile, the commerce business pushed for product innovation to reinforce the ‘Your Wellbeing Partner’ status to cater to the differing needs of consumers. New distribution channels were also established for the health-conscious premium mass market. Moreover, the acquisition of ULife also aimed to build an innovative direct sales business. With these factors, the company was more than ready to make a record-breaking revenue and profit.
Wittawat Wetchabutsakorn, Chief Financial Officer said, RS Public Company Limited, said, “For the first quarter of 2022, the company generated a total revenue of 845 million baht from sales and services, or a 15% increase from the previous quarter. Such revenue growth was contributed by the strength of Entertainmerce business model, while media and entertainment businesses also grew significantly vertically and horizontally. The company’s media business generated 352 million baht in revenue, 103% growth from the previous quarter and 38% growth from last year, due to revamped content of soap opera, news, boxing program, as well as other new programs throughout the quarter. This revenue growth was also multi-sourced from recovering television ads and the increase in content sales to online platform. As COVID-19 situation is improving, the entertainment business will also recover and grow. In the second half of this year, K-Pop events and concerts will also help contribute towards the total revenue of the company.”
“Although the commerce business still experienced the ramifications of COVID-19 pandemic, RS Group did adjust its strategies and marketing plans to fit the fast-changing situation. In the second quarter, numerous products were launched, including Krill Oil plus CBD from well u, CAMU C Plus hemp and CAMU C CBD shot. The latter two will contain hemp and CBD extracts to further reinforce the company’s leadership in health product innovation. Additionally, the acquisition of ULife was complete in May, adding to RS Group’s array of direct sales channel. Strong synergies have been forged with other businesses within the Group to create new business opportunities, strengthen their marketing strategies, enable current ‘Business Partners’ to work more effectively, and attract new Business Partners. In return, ULife expanded RS Group’s distribution channels to cover wider customer base, building a strong ecosystem throughout the value chain for the greatest productivity. We believe that these actions would help the company’s commerce business to thrive and flourish again.”
Wittawat also added, “Recently, the Board of Directors’ Meeting of RS Group approved the plan to issue and offer newly issued ordinary shares of Chase Asia Company Limited in the Initial Public Offering (IPO) and listing of all ordinary shares on the Stock Exchange of Thailand (SET) within the fourth quarter of 2022. The IPO will enable Chase Group to soar quickly. We strongly believe that Chase Group is an important strategic shareholder of RS Group and the company will maintain its shareholding proportion in Chase Group as an associate company for future synergies in the future.”