- Bangkok Ranch “BR”, A Duck Meat Leader reports Juicy Profits of 386 million Baht, a 792% Growth
- Strong Business Recovery, targeting 10% Growth This year To Launch
- “Ready to Eat” Cooked Product Lines and Expand Globally
Bangkok Ranch Public Company Limited (SET: BR), an International Duck Meat Leader reports a strong 386-million-baht Net Profit, a big jump of 792%. The Company benefits from post-covid-19 economy reopening in Thailand and Europe. BR plans to launch “Ready to Eat” product lines to increase domestic sales while expanding new export markets, to achieve 10% revenue growth.
Mr. Joseph Suchaovanich, Founder and Chief Executive Officer, Bangkok Ranch Plc. “BR” says that “In 2022, BR has total revenue of 8,520 million baht, a 17% growth from 2021, which had revenue of 7,260 million baht. It has net profit of 386 million baht, a 792% profit jump from the net loss of 56 million baht during the covid-19 period last year. The result improvement comes from an increase in revenues, improved sales & new management strategies. The Company has gross profit of 1,805 million baht, a 60% increase from the same period last year, due to revenue increase. Its gross profit margin increased to 21% from 16% last year, mainly from proper management execution and cost control.
BR sets 2023 Business Target of 10% revenue growth. This should come from new customer acquisitions, continuous business improvement recovery and effective operation management. Moreover, the covid-19 situation has improved throughout the world. The company plans to launch new product lines: “ Ready to Eat” & “ Ready to Cook” Duck. In addition, BR plans to expand its international markets further from the European market, served by production facilities in Thailand and the Netherlands.
BR Group is one of the leading duck meat producers for over 30 years. Consist of a complete duck supply chain operation – parent duck farms, commercial farms, feed mill, hatchery, slaughter houses and processing plant. With world-class technology and facilities in both Thailand and the Netherlands, BR produces the highest-quality duck meat and ready to eat duck products.