OSP Reports 6% Profit Growth from Strong Sales and Gross Margin

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

Year 1Q24 1Q23
Net Profit (Loss)
Million Baht
828.50 777.90
Earning Per Share
0.2800 0.2600
% Change 6.50

OSP reported a net profit of THB 828 million in 1Q24, increased by 6.5% YoY.

Revenue from sales increased by 10.9% YoY, boosted by a 15.1% YoY increase in the beverages segment and a 8.7% YoY increase in the personal care segment, offsetting the decline in OEM sales. Beverage revenues expanded through a combination of volume growth and our premiumization strategy across both domestic and international markets.

Gross margin continuously expanded by 310 bps YoY. The margin improvement was primarily contributed by our premiumization strategy and country mix with higher margins from international businesses, ongoing volume recovery, favorable raw materials and utilities prices, and improved production efficiency.