ICT launches new food products pushing revenue through 2.5 billion – stock dimension

Stock dimensions – ICT Broker expects strong Q2 profit, launches new product Target sales hope in China reviving, boosting revenue for the year, reaching 25 billion baht. The strong profit reaching the target of 36 baht / share.

ITC from Asia Plus Securities said that Q2/2023 normalized profit will recover QoQ (but decline YoY) from the trend of customer orders and gross profit recovering, the share price has corrected more than 10% since the start of the year tan Currently, net profit in 2023 is expected to reach 4,488 million baht, growing 2% yoy from food sales volume trends. And pet snacks continue to grow, with PER from 2013 at 18 times, recommend “buy” with a target of 36 baht.

“Revenue in 2023 is expected to reach 2.5 billion baht.

After the price increase – the release of new products

Meanwhile, ITC executives set a 2023 total revenue target to grow 15-17% yoy to 25 billion baht, following the trend of increasing the average selling price by 5% yoy and increasing sales volume by 10% yoy from the production of new products such as pet food and pet treats containing collagen and gelatin, etc. ITC sets a 2023 gross profit target of 25%, stable from last year.

“Aim for a 25% margin.

expect sales in China to increase.”

Pichitchai Wongpiya, CEO, revealed that in 2023 the company has set a revenue growth target of 15% from the previous year with a revenue of 21,420 million baht and expects a Gross Profit Margin of around 25% During the 3 years (year 66 ). -68), an average of 38.5% per year or almost 2 times faster than market growth

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