Ichitan Reports 113% Profit Growth in 1Q23 with Higher Sales Revenue from Tea Market

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

Quarter 1Q23 1Q22
Net Profit (Loss)
Million Baht
221.73 103.93
Earning Per Share
0.1700 0.0800
% Change 113.34

ICHI reported a net profit of 221.7 million baht in 1Q23, increased 113% from a net profit of 103 million baht in 1Q22. The increase was mainly due to a surge in sales revenue of 1,832.5 million baht, increased 27.1% YoY, from domestic sales that rose 29.8% due to the growth of its ready-to-drink tea market segment and new products. Also, export sales increased by 0.6% due to the economic recovery of trading partner countries.