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Friday, June 14, 2024

Central Retail outperforms 3rd quarter expectations, sweeping in a profit of THB 1,259 million with a 157% growth

Mr. Yol Phokasub, Chief Executive Officer of Central Retail Corporation Public Company Limited or CRC stated, “Central Retail has continued to achieve strong growth in Q3/2022 with a total revenue of THB 57,998 million (+40% YoY) and a total profit of THB 1,259 million (+157% YoY).

In terms of business performance over the past nine months (January – September 2022), the company has achieved a total revenue THB 171,098 million (+25% YoY) and a total profit of THB 4,188 million (+292% YoY), which is considered another testament of Central Retail’s leadership position as the retailer of the future that never stops to develop and create new business models to comprehensively serve the evolving needs of consumers.”

The last quarter of 2022, which is considered the high season in Thailand, Vietnam and Italy, will show strong signs of economic growth. Consumer spending is on the rise and tourist arrivals are increasing constantly. It is forecasted that December will be the busiest time of the year which over 2 million international travelers return to Thailand. The government is also planning to launch the ‘Shop Dee Mee Keun’ initiative to stimulate the economy and consumer spending near the end of the year. These are all considered opportunities for the retail and service industry especially for Central Retail, which has prepared to serve the spending of consumers, including the Next-Gen Omnichannel platform that will provide seamless shopping experiences to consumers. Moreover, Central Retail has prepared to launch Robinson Lifestyle Ratchapruek on November 17, which will be the latest flagship mall serving the expanding family segment in the area. It is expected that Central Retail will close the 2022 business year achieving its revenue growth target of 20% and will be able to continue to drive growth onto the next year stronger than ever.

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