HMPRO Maintains Performance in 3Q23 during Low Season with 2 New Branches Opening

Home Product Center Public Company Limited (SET: HMPRO) has announced its 3Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 3Q23 3Q22
Net Profit (Loss)
Million Baht
1,533.13 1,533.33
Earning Per Share
0.1200 0.1200
% Change -0.01
9 Months 2023 2022
Net Profit (Loss)
Million Baht
4,764.12 4,564.35
Earning Per Share (Baht) 0.3600 0.3500
% Change 4.38

HMPRO reported a flat growth of net profit in the third quarter of 2023 at 1,533 million baht. The total revenue was 17,490 million baht, increased 3.24% from the third quarter of last year. The increase in revenue was contributed by higher revenue realization regarding new stores rolled out of HomePro and Mega Home since the third quarter of last year onwards even though there were impacts from the weakening of private sector consumption and overall economy during the third quarter of this year.

The store expansion plan in the third quarter proceeded as scheduled. The Company opened 1 new HomePro store at Seacon Bangkae, and 1 new Mega Home store at Pluak Daeng, Rayong province. As at the end of the third quarter of 2023, the Company operated 87 HomePro stores, 5 HomePro S stores, 25 Mega Home stores, as well as 7 stores of HomePro Malaysia.

HMPRO stated that consumers were still concerned about the rising cost of living, i.e. an increasing interest burden and increases in the price of consumer goods, which lowered consumers’ purchasing power. Moreover, the third quarter coincides with the rainy season, which is usually the low season for retail activities. However, tourism has been showing positive signs of recovery, as seen by the continuously increasing number of foreign visits to Thailand. The cCompany is closely monitoring the situation and applying agile strategies.