COCOCO Records 200% Growth in 1Q24 Earnings as Sales Overseas Expand

Thai Coconut Public Company Limited (SET: COCOCO) has announced its 1Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 1Q24 1Q23
Net Profit (Loss)
Million Baht
203.52 67.09
Earning Per Share
0.1400 0.0600
% Change 203.34

COCOCO reported a net profit of 203 million baht in 1Q24, increased 203% from a net profit of 67 million baht in 1Q23. The increase was mainly due to an increase in revenue from sales and services.

The company had a total revenue of 1,397.62 million baht, which is an increase by 62.18% as compared to the same quarter of the previous year. This is because of the growth of revenue from sales and services, and the sales of all types of products, especially coconut water products and pet food products. 

The company can expand the distribution channels in all marketing channels. However, the total revenue decreased by 2.94% as compared to the previous quarter because the revenues from interest and other revenues decreased. The revenues from sales and services slightly decreased, which aligned to the seasonal or low season of the sale of coconut water products.

Revenue from sales and services overseas in the first quarter of the year 2024 was 1,181.17 baht million, which increased at 505.60 million baht, or increased by 74.84% as compared to the same quarter of the previous year. Because the company is able to increase sales for all products. In addition, the company also sees continued growth due to the increase in the order quantity of current customers.