Ichitan Group Reports 50% Profit Growth in 3Q22 with a Boost from Domestic Sales

Ichitan Group Public Company Limited (SET: ICHI) has announced its 3Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 3Q22 3Q21
Net Profit (Loss)
Million Baht
192.23 128.26
Earning Per Share
0.1500 0.1100
% Change 49.88
9 Months 2022 2021
Net Profit (Loss)
Million Baht
448.71 414.13
Earning Per Share (Baht) 0.3500 0.3200
% Change 8.35

ICHI reported a net profit of 192 million baht in 3Q22, increased 49.88% from a net profit of 128 million baht in 3Q21.

In the third quarter of 2022, the company recorded sales revenue of 1,664 million baht, which increased by 505 million baht or 43.6% from the same period of last year. Domestic sales increased by 51.7% from growing domestic ready-to-drink tea market and adjustment of the company’s sales promotion plan to increase the distribution coverage. However, sales from exports decreased by 4.9% due to the impact of the economic slowdown in partner’s trading countries.