CPAXT Reports 15% Net Profit Growth in 1Q24 from Strong Sales Growth and Lower Borrowing Costs

CP Axtra Public Company Limited (SET: CPAXT) has has announced 1Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 1Q24 1Q23
Net Profit (Loss)

Million Baht

2,481.35 2,165.65
Earning Per Share


0.2300 0.2000
% Change 14.58


CPAXT reported a net profit of Baht 2,481 million, an increase of Baht 315 million or 14.6% YoY, attributed to strong sales growth and lower borrowing costs as a result of debt restructuring.

The company recorded a total revenue of Baht 127,020 million, an increase of Baht 6,798 million or 5.7% year-on-year. While revenue from sales of goods was Baht 121,182 million, which rose by Baht 7,138 million or 6.3% from the same quarter last year. Supportively, the revenue from wholesale business increased by 6.0% from the same quarter last year, owing to an increase in same-store sales growth (SSSG), particularly in online, out-store, along with delivery products to customers (Omni Channel), and the new stores of Makro-Thailand, as well as an expansion of Makro-International and Foodservice APME businesses. With a similar trend, the revenue from the retail business grew 6.7% YoY, by strategically focusing on fresh food and the Omni Channel.

CPAXT had a gross profit margin from sales of 14.1%, which marginally increased from the same quarter last year when the margin was 14.0%, primarily due to the wholesale business.

The company and its subsidiaries are expected to continue revenue growth in 2024. This growth is driven by an emphasis on enhancing sales growth across all channels, including Omni Channel sales, expanding into new stores, renovating existing stores both domestically and internationally, as well as transforming the shopping centers into smart community hubs that cater to the preferences of all ages and the local community in both design and size.