MALEE disclosed an impressive export sales growth of 22% YoY in Q1/2017 Net profit stood at 118MB, an increase of 8% YoY

Stocks and Financial Services Press Releases Friday May 12, 2017 16:21
Bangkok--12 May--Malee Group

Ms. Roongchat Boonyarat, Chief Operating Officer of Malee Group Public Company Limited ("MALEE" or the "Company") discloses that "In Q1/2017, export sales continued to grow outstandingly by 22% YoY, especially from the export sales in our own branded business which grew by 30%. This was resulted from the Company's strategy in setting up strategic plans for each focused country properly."

"In Q1/2017, the Company and its subsidiaries recorded sales of Baht 1,515 million, a slight decrease of 1% YoY due to the slowdown of domestic sales in Contract Manufacturing Business (CMG) and Branded Business (Brand), especially from the drop of domestic sales in canned fruit."

"However, export sales continued to grow outstandingly, both in Brand and CMG business. Although total sales in Q1/2017 slightly decreased, the Company managed to generate net profit of Baht 118 million, an 8% increase YoY, encouraged by the Company's strategy and internal management for efficiency enhancement and cost reduction."

"In Q1/2017, the Company's joint venture in the Philippines, Monde Malee Beverage Corporation (MMBC) continued to be one of the major growth sales engines to drive the Company's export sales. MMBC has launched its second product, the jelly drink, under the brand of "Jelly Vit" since the mid of March 2017, and the feedback was well received."

"The Company is confident that it will be able to accomplish target 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 due to its greater opportunities. Furthermore, the Company has been working closely with its distributors or partners in each country in cooperatively setting up strategic plans to select the right product and marketing strategy for each focused country, such as emerging countries in ASEAN as well as China."

"The Company is in the process of improving the plant facilities and machinery for production efficiency enhancement and cost reduction. The entire process will take approximately 3 years, starting from 2016, continuing to 2017, and expecting to complete in 2018. The machinery improvement will include the replacement of a new manufacturing line which is expected to be ready for production in Q4/2017. The new manufacturing line is currently the world's best technology and will allow the Company to produce a wider range of products with higher production efficiency and lower production cost. The greater production capability of the new machinery line will also create more prospects to gain new customers or new products from currently, thus improving the Company's sales, earnings as well as profitability margin, following the higher utilization rate of the production line."

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