Pluk Phak Praw Rak Mae Public Company Limited (SET: OKJ) has released its full-year 2025 financial results, showcasing a significant divergence between top-line growth and bottom-line profitability. While the organic food and beverage giant successfully expanded its market footprint, it faced substantial headwinds from rising operational expenses and a challenging economic climate.
| Year | 2025 | 2024 |
| Net Profit (Loss) Million Baht |
70.41 | 201.69 |
| Earning Per Share (Baht) |
0.12 | 0.41 |
| % Change | -65.09 | |
OKJ reported total sales of THB 2,726.5 million for 2025, marking a 12.6% increase from the THB 2,421.1 million recorded in 2024. This growth was primarily fueled by an aggressive expansion strategy, adding 4 Ohkajhu stores, 11 Oh! Juice locations, and 5 Joe Wings outlets throughout the year. Furthermore, strategic partnerships and new sales channels, such as collaborations with Thai Airways and Café Amazon, helped diversify the company’s income base.
Despite the revenue surge, net profit plummeted by 65.1% to THB 70.4 million, down from THB 201.7 million in 2024. Profitability was hit by THB 17.0 million in one-time items related to the relocation of a new central kitchen and asset write-offs due to machinery damage. Even when excluding these one-time costs, normalized net profit fell 60.8% to THB 87.4 million.
The bottom line was heavily impacted by a 35.2% spike in selling expenses, which reached THB 922.2 million. The company struggled with high fixed costs—including labor, rent, and depreciation—while sales performance was hindered by weakened consumer purchasing power and intensified competition among restaurant chains. Consequently, same-store sales growth (SSSG) for the flagship Ohkajhu brand saw a sharp 21.6% decline. Gross profit margin also narrowed to 43.2%, compared to 44.5% in the previous year, reflecting the pressure of fixed labor costs and celebratory promotional campaigns.
