XO Posts Profit of THB96.5 Million on Higher Revenues from Sales and GPM

Exotic Food Public Company Limited (SET: XO) has announced its 1Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 1Q23 1Q22
Net Profit (Loss)
Million Baht
96.47 95.17
Earning Per Share
0.23 0.22
% Change 1.38

In 1Q23, XO reported a net profit of Baht 96.47 million, an increase of 1.38% from Baht 95.16 million in the comparable quarter of 2022. Such increase stemmed from an increase in revenue from sales and gross profit margin.

During the first quarter, XO booked the total revenue from sales in the amount of Baht 394.95 million, which resulted in an increase of Baht 47.20 million or 13.57%, mainly driven by an increase in sales volume of sauces and condiments in Europe and products’ selling price.

Gross profit margin was 44.33%, which increased from 43.77% as compared to the same period in 2022, on the back of rising prices of the Company’s products.