HMPRO Reports Slight Increase in 2Q22 Earnings with Product-Mixed Strategy

Home Product Center Public Company Limited (SET: HMPRO) has announced its 2Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 2Q22 2Q21
Net Profit (Loss)
Million Baht
1,520.07 1,432.59
Earning Per Share
0.1200 0.1100
% Change 6.11
6 Months 2022 2021
Net Profit (Loss)
Million Baht
3,031.02 2,795.06
Earning Per Share (Baht) 0.2300 0.2100
% Change 8.44

HMPRO reported a net profit of Baht 1,520 million in 2Q22, increased 6.11% from a net profit of Baht 1,432 million in 2Q21. Total revenues were Baht 17,307.56 million, an increase of Baht 353.26 million or up 2.08%.

Meanwhile, gross profit from product sales and service income of Home Service was Baht 4,195.45 million, an increase of Baht 129.83 million or up 3.19% as compared with the prior year. The percentage of gross profit increased from 25.17% to 25.71%, which was attributed to the change of product mix toward high-margin products and increasing service income despite higher logistic cost for distribution to stores resulting from oil price inflation.

Selling and administrative expenses (SG&A) amounted to Baht 3,029.59 million, an increase of Baht 163.41 million or up 5.70% year-over-year. The increase in SG&A as a percentage of Sales from 17.74% to 18.57% was attributable to the increase of marketing and promotion expenses, employee salary and welfare expenses, utilities expense, logistic cost for delivery to customers, maintenance expenses and property tax back to normal rate