MALEEs 2016 sales hit highest record ever Net profit reached 530MB, a remarkable growth of 60% YoY

Stocks and Financial Services Press Releases Friday February 24, 2017 17:44
Bangkok--24 Feb--Malee Group

Ms. Roongchat Boonyarat, Chief Operating Officer of Malee Group Public Company Limited ("MALEE" or the "Company") discloses that "2016 was a year of big success for MALEE as the Company achieved its highest record of annual sales since establishment in 1978, with total sales of Baht 6,541 million, an increase of 21% YoY. Net profit was Baht 530 million, an outstanding growth of 60% YoY, achieving its second highest annual profit since 2012, the year in which the Company had benefit as CMG customers were impacted from the great flood in 2011."

"Impressive operating results in 2016 were supported by greater sales both in Branded Business (Brand) and Contract Manufacturing Business (CMG), both of which grew domestically and internationally, especially continually striking growth from export. This was in line with the Company's strategy to have revenues streamed from different businesses."

"In Q4/2016, the Company and its subsidiaries recorded sales revenue of Baht 1,507 million, down 14% QoQ and 2% YoY due to the slowdown in domestic consumption, while export sales of CMG were down QoQ from seasonality impact. However, export sales of Brand continued to grow both QoQ and YoY, since the Company has been working closely with its distributors on marketing plans and promotions in each country. In addition, sales of CMG continued to grow remarkably YoY. Despite the sales drop in Q4/2016, the Company managed to make profit of Baht 117 million, an increase of 11% YoY, in accordance with the Company's strategy and internal management for efficiency enhancement and cost reduction."

"The Company is confident that it will be able to accomplish sales growth of 10-15% in 2017 by maintaining growth of Brand and CMG businesses, both of which will grow domestically and internationally. Export sales growth tends to grow at a higher rate than domestic as it did last year."

"Currently, the Company has 2 joint venture companies including Monde Malee Beverage Corporation (MMBC) in the Philippines and Mega Malee Company Limited (Mega Malee) in Thailand. MMBC is one of the main engines to drive the Company's export sales going forward. Although it made loss in 2016, it was foreseen and according to plan of the Company. There is high spending at the beginning as we launch more new products into the market. Meanwhile, Mega Malee has a plan to launch its first natural health drink product in the second half of 2017."

"Besides the Company's vision to broaden its scope of business beyond fruits and beverages into health and wellness, later on 12 January 2017, the Company has established a new subsidiary named Malee Applied Sciences Company Limited (MAS) to enhance the Company's capability in innovation research and development with focus on adding value to goods and services in order to strengthen the Company's current business and support business growth in other areas in the future. In addition, we hope the value added of by-products will help support farmers and increase their income."

"The Company is committed to maintaining its sustainable growth without relying on just one business segment. For the past two years during 2015-2016 and also in 2017, the Company has been preparing and reinforcing several aspects including developing capability and mindset of employees, building corporate culture, giving importance to business partners, optimizing machinery and factory for production efficiency enhancement and cost reduction, managing risk in raw material procurement, as well as exploring new market opportunities and partnership with complimentary expertise both domestically and internationally, in order to enhance our business for future rapid growth and to support the Company's sustainable growth."

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