HMPRO Reports 6% Increase in 2Q23 Earnings as Sales Edge Higher

Home Product Center Public Company Limited (SET: HMPRO) has announced its 2Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 2Q23 2Q22
Net Profit (Loss)
Million Baht
1,619.87 1,520.07
Earning Per Share
0.1200 0.1200
% Change 6.57
6 Months 2023 2022
Net Profit (Loss)
Million Baht
3,230.99 3,031.02
Earning Per Share (Baht) 0.25 0.23
% Change 6.60

HMPRO reported a net profit for the second quarter of 2023 was Baht 1,619.87 million, representing an increase of Baht 99.80 million or up 6.57% as compared to the previous year.

Total revenues were Baht 18,902.67 million, an increase of Baht 1,595.12 million or up 9.22%, mainly from the revenue from contracts with customers which comprised of product sales revenue and service income of Home Service was Baht17,788.83 million, representing an increase of Baht1,470.23 million or up 9.01% year-over-year. The increase in revenue was contributed by higher domestic consumption in particular areas. Besides, during the summer season, which normally took place in April and May, the average temperature in several parts of Thailand reached record highs,supporting the sales of electrical cooling appliances to increase. In addition, the Company drove its sales by organizing a new campaign ‘Old for New’ or a trade-in program, including several promotional activities for both offline and online channels in order to provide more convenience for customers to purchase products and services.

Gross profit from product sales and service income of Home Service was Baht 4,679.87 million,an increase of Baht 484.43 million or up 11.55% as compared with the prior year. The gross profit margin increased from 25.71% to 26.31%, which was attributed to the better product mix toward high margin products,as well as a higher volume discount for seasonal items received from vendors.