Exotic Food Public Company Limited (mai: XO) has announced a change in shareholding of its major shareholders Mr. Jittiporn Jantarach.
Serving as the company’s Managing Director, Mr. Jittiporn had purchased additional 1,500,000 shares on November 16, 2023, which raised his shareholding in XO to 10.18% from 9.83%. He remains as the company’s third largest shareholder.
XO is widely known for the Thai producer and distributor of seasoning products, i.e. chili sauce and dipping sauce. The company reported a satisfying 3Q23 earnings with 260% growth in net profit at Baht 248.15 million. The increase was mainly due to higher sales in the third quarter as well as an increase in gross profit margin.
Mr. Jittiporn earlier hinted that XO’s topline in the fourth quarter is expected to be moderately higher than the third, which could imply that the U-rate can surpass the current level of 150%. If XO can maintain the same level of production throughout next year, the market is surely to see another record high from the Thai dipping sauce producer.
The MD also added that the original plan of XO is to build a new production plant next year, which is expected to be complete and ready by the end of 2025. However, there is overflowing demand for XO’s products to the point that orders could overwhelm its production capacity.
Due to this reason, Mr. Jittiporn revealed to “Kaohoon” that the company is making another plan to expand its production line within the existing plant in Amata Industrial Area with an investment of 200 million baht.
As of 15:02 BKK time on Tuesday, the share price of XO is trading at THB29.50 per share, increased THB1.25 or 4.42%.