MALEEs Q3/2016 net profit jumped 176% YoY. Sales will continue to grow.

Stocks and Financial Services Press Releases Friday November 11, 2016 10:20
Bangkok--11 Nov--Malee Group

Ms. Roongchat Boonyarat, Chief Operating Officer of Malee Group Public Company Limited ("MALEE" or the "Company") discloses MALEE's Q3/2016 operating results that "The Company and its subsidiaries recorded sales revenue of Baht 1,770 million which is the highest record quarterly sales since establishment and operation in 1978, an increase of 33% YoY. Net profit was Baht 161 million, a remarkable jump of 176% YoY, achieving a new record high quarterly net profit since 2012, the year in which the Company had benefit as CMG customers were impacted from the great flood in 2011. For the nine-month of 2016, the group recorded sales revenue of Baht 5,063 million, an increase of 31% YoY, with net profit of Baht 413 million, an increase of 83% YoY."

"In Q3/2016, sales growth was supported by higher sales both in Branded Business (Brand) and Contract Manufacturing Business (CMG), both of which grew domestically and internationally. Domestic Brand sales slightly increased despite a small drop in domestic RTD fruit juice market, while Export Brand sales continued to grow."

"The Company's vision is to broaden its scope of business beyond fruits and beverages into health and wellness, and striving for leadership in health is one of the Company's main strategies. On 22 August 2016, the Company signed a joint venture agreement with Mega Lifesciences Public Company Limited to establish Mega Malee Company Limited, in order to develop natural health-focused RTD products, both for Thailand and international markets. The first product is projected to be launched in the second half of 2017."

"Apart from the Company's strategy aiming towards leadership in health business, overseas market is another key strategy to steadily drive the Company's sales growth. The Company is also focusing on building long-term relationship with both distributors and business partners, in order to expand Branded Business in ASEAN countries with potential high growth including Philippines, Myanmar and Cambodia as well as China, but selecting products to suit each local market and collaborating with new and current business partners in order to strengthen and enhance business for further expansion."

"The Company is confident that it will be able to continue its sales growth both from domestic and export by capturing mega trends in health and wellness, maintaining sales growth of existing and new CMG customers as well as strengthening sales from both current and future partnerships and joint ventures under the Company's pipeline."

"In addition to the Company's commitment to maintaining its growth with stability without relying on just one business segment, the Company is focusing on production efficiency, cost reductions as well as placing importance on building corporate culture and taking care of employees to support the Company's sustainable growth."

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