Ms. Peyanuch Prepraemvatana, Chief Financial Officer, discussed that “In 3Q 2014, our business continued to experience the full impact of contraction of domestic consumption. The growth in sales revenue in this quarter was led by the consolidation with Time Deco Corporation Limited that acquired in November 2013.
In addition to investment in new brands as part of future growth strategic initiative to enhance our market penetration, promotional sales activities to boost consumer spending and an increase in selling expenses from store expansion while overall sales were affected by the slowdown in consumption resulted in short term pressure on profitability. However, corresponding to growth trend and performance by each distribution channel, our store expansion strategy has shifted more and more toward free standing shop channel which will support stronger future growth as we believe the government economic stimulus measures will bolster and boost domestic consumption.”
From the end of 2013, MC Group has added 90 points of sales, in line with its 2014 expansion target of 110 points of sales, 49 of which were from free standing shop, 30 from modern trade, 8 from international market and 3 from mobile units.
Ms. Sunee Seripanu, Chairman of the Board and Chief Executive Officer added “For the future business plan, we will continue to expand our sales network with the focus on free standing store and in the same time, expand our brand portfolio to capture broader / wider consumer segments and enhance our market penetration. For example, “Mc mini”, launched in April 2013 for boys where “Mc mini girls” was recently launched to tap into girls (age 6-12) market. We will continue on introducing new products to serve different lifestyles. Furthermore, the management is also trying to strengthen the company’s human resources for the sustainable business growth”
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