ICHI’s 2023 Earnings Jump 71% from Higher Domestic Consumption, Paying THB0.50 Dividend

Ichitan Group Public Company Limited (SET: ICHI) has announced its 2023 consolidated financial statement through the Stock Exchange of Thailand as follows;

Year 2023 2022
Net Profit (Loss)
Million Baht
1,100.42 641.64
Earning Per Share
0.8500 0.4900
% Change 71.50

ICHI reported a net profit of 1,104 million baht, increased 71.50% from 2022, representing a net profit margin of 13.7%, up from 10.1% last year. 

Revenue from sales for the year was 8,050 million baht, increased by 27% from 2022, which was mainly due to the increase in domestic sales of 28.9% from ready-to-drink tea market and recovering consumption in Thailand. On the other hand, export sales increased 8.8% due to the economic recovery of trading partner countries and revenue from contract manufacturing (OEM).

In addition, the company announced a dividend payment of THB0.50 per share to be paid on 10 May 2024. The ex-dividend date is 5 March 2024.