SNNP Approved THB0.25 Dividend Payment, Targeting Double-Digit Revenue Growth in 2024

SNNP’s shareholders greenlighted to pay another dividend of 0.25 baht/share, XD on 7 May, scheduled to be paid on 24 May 2024, totaling the annual payment of 0.482 baht/share. Mr. Wiroj Wachiradechkul, the executive, is confident in the revenues of the year 2024, which shall be at Double-Digit growth from developing and releasing new products both beverage and snack groups penetrating both domestic and overseas markets to maximize sales.

Mr. Wiroj Wachiradechkul, Senior Executive President Domestic Business Division, Srinanaporn Marketing Public Company Limited (SNNP) revealed that the 2024 Annual General Meeting of Shareholders on April 25, 2024, resolved to approve another dividend payment at the rate of 0.25 baht per share for the second half of the year, the XD is scheduled on May 7, 2024, and the payment shall be made on May 24, 2024. The Company has already paid an interim dividend of 0.232 baht per share, totaling 0.482 baht/share from 2023 operating results.

Factors influencing the increase of net profits creating new record highs were derived from very successful marketing plans and  the increase of sales from both domestic and international markets as well as the Company’s launches of  new products for sale continuously along with marketing strategies: product makeover, including the launch of new commercial films to communicate marketing to the target consumers directly, received good responses.

“For the 2024 business plan, SNNP continues to create awareness and promote the consumption of products, including the release of new products both beverages and snacks continuously. The Company also plans to expand the market to foreign countries apart from Vietnam, which is the main country. We still see opportunities to market in other countries, such as the Philippines, Korea, and China, etc., and are still searching for additional markets to expand the quality and sustainable growth. These factors are keys to double-digit growth in the Company’s 2024 performance as planned,” said Mr. Wiroj.

In addition, the Company’s operating results in 2023 had a net profit of 636 million baht, an increase of 120 million baht or 23%, continuously setting a new-high record. Total revenues was 6,049 million baht, an increase of 445 million baht or 8% compared to the same period last year of 5,604 million baht, archiving an all-time high.