Ms. Saowaluck Thithapant, Group Chief Executive Officer - Makro Business revealed the company's performance for Q1/2023 (January-March), both the wholesale business under Makro brand and the retail business under Lotus's brand achieved continuous revenue growth with a total revenue of THB 120,222 million, 7.9% increase over the past year that was THB 111,418 million. The net profit reached THB 2,166 million or up to 5.6% from last year when the net profit was THB 2,050 million. Makro, wholesale business has managed to deliver profits of THB 1,897 million while Lotus's, retail business has managed to deliver profits of THB 269 million.
The overall growth in the first quarter was propelled by the economic situation and the ongoing recuperation of the tourism sector following the country's reopening. This has led to an increase in demand for various service businesses, particularly HoReCa (Hotels, Restaurants, and Catering).
To further capitalize on this growth, Makro - the wholesale business expands its reach by opening new stores in strategic locations. One of the news stores located at Sanambin Nam, spans over 3,000 square meters of retail space with a high potential for store traffic and sales due to large number of residentials in the area. The company continuously expands its stores and leverages O2O strategies to provide the most convenient services as well as to meet the rising demand of the consumers. Meanwhile, Lotus's - the retail business has also been expanding its premium hypermarkets "Lotus's Prive", Lotus's Hypermarket Sikhio, and Lotus's Go Fresh 19 stores.
In terms of the business cost management, the focus is to increase the proportion usage of alternative energy to cope with the rising electricity prices. To this end, the company has installed solar rooftop panels at 76 Makro's stores and 566 Lotus's stores, 642 stores in total. By 2024, the company aims to expand to over 1,150 stores, covering 13% of its energy needs.
"With the gradual recovery of the economic and tourism, the company continues to drive growth forward by expanding its retail footprint in both local and international markets. Recently, Makro opened a new store in Thep Rak to serve customers in Sai Mai area. In addition, Lotus's plans to open more than 200 stores in 2023, as part of its expansion strategy. Moreover, to cater to the evolving needs of customers, the company aims to enhance their online channels and provide seamless delivery services," Ms. Saowaluck Thithapant said.
Source: MT Multimedia
