Thanapiriya Continues to Thrive, Expects Strong Second Half
Retail empire leader, Thanapiriya (TNP), is set to conquer new branches and reward shareholders as it announces an interim dividend of 0.04 baht per share.
Chiang Rai-based retailer and wholesaler of consumer goods, Thanapiriya Public Company Limited (TNP), has reported impressive results for the second quarter of 2023. With revenue reaching nearly 632 million baht, an 11.8% growth compared to the same period last year, TNP has further bolstered its first-half earnings to 1,265 million baht. This constitutes an increase of almost 100 million baht, reflecting the company’s ambitious expansion strategy, which currently includes 43 locations across the upper northern region.
Thanapiriya remains committed to reinforcing its presence by expanding into new branches and increasing accessibility to consumer goods in local communities. With a strong focus on meeting customer needs and selecting quality products, the company aims to solidify its position as a leading Thai retailer. As a testament to TNP’s success, an interim dividend declaration of 0.04 baht per share has been announced, rewarding shareholders on September 6.
Amorn Putthipiriya, Deputy Managing Director of Thanapiriya, attributed the company’s positive financial performance in the first half of the year to its comprehensive strategy of store distribution expansion and catering to a broader customer base. By prioritizing the preferences of Thai consumers, Thanapiriya has experienced remarkable growth. In the second quarter of 2023 alone, sales revenue amounted to 631.81 million baht, representing an 11.18% increase from the previous year. Additionally, same-store sales saw a 1.9% surge, resulting in a gross profit of 109.18 million baht and supporting a net profit of 37.84 million baht with a gross profit margin of 16.96%.
Having generated overall sales revenue of 1,265.56 million baht, an increase of 98.25 million baht from the same period last year, Thanapiriya boasts an 8.42% growth in store sales. This expansion is partly attributed to the opening of new stores and stringent management practices. The company’s gross profit stands at 214.87 million baht, reflecting a 6.91% increase with a gross profit margin of 16.98%. Ultimately, net profit amounted to 74.10 million baht, a 5.82% increase from the previous year.
Furthermore, the Board of Directors has approved an interim dividend payment of 0.04 baht per share for the period between January 1 and June 30, 2023. The list of dividend recipients will be determined on August 22, and the dividend payment is scheduled for September 6.
Presently, Thanapiriya operates 43 branches in the provinces of Chiang Rai, Chiang Mai, and Phayao. As part of its expansion plans, the company aims to open five new branches this year, bringing the total to 47. This strategy enables Thanapiriya to extend its product reach to local communities, particularly as the high tourist season approaches in the North.
Looking ahead, Thanapiriya sets its sights on a revenue growth target of 15-20% for the second half of the year. With plans to open four additional branches and the anticipated full recovery of the tourism industry, the company remains optimistic that its second-half revenue will surpass that of the first half.
“We are confident that with the opening of more branches and the return of tourism during the North’s high season, our revenue will achieve substantial growth in the second half of the year,” stated the female pharmacist.
Looking forward to the second half of the year, continue to peak, welcome the high season, on the board side, beat on a dividend of 0.04 baht / share.
Thanapiriya (TNP) strong form, opening Q2/23 results, sweeping revenue of nearly 632 million baht, growing 11.8%, pushing the first half of the year, earning 1,265 million baht, an increase of nearly 100 million from the old growth branch . which currently has 43 locations covering the upper northern region Willing to continue to conquer new branches increase access to consumer goods in the community Emphasizes the leader of the local Thai retail empire reward shareholders Interim dividend declaration 0.04 baht / share, payable on 6 September.
Female pharmacist Amorn Putthipiriya, Deputy Managing Director of Thanapiriya Public Company Limited or TNP. Retailers and wholesalers of consumer goods in Chiang Rai Reveal operating results for the first half of the year get increased income from the strategy of comprehensively increasing the number of store distribution branches to the community as well as choosing quality products and responding to the needs of more users. Emphasizing being a local retailer of Thai people that has grown strongly, with the results of the second quarter of 2023, sales revenue was 631.81 million baht, an increase of 11.18% from the same period last year. With same-store sales up 1.9%, gross profit was 109.18 million baht, an increase of 8.48 million baht or 8.42%, with a gross profit margin of 16.96%, supporting a net profit of 37.84 million baht, an increase of one period from the previous year at 3.60 million baht or 10.50%
Although the performance of the first half of the year, the company The revenue from sales was 1,265.56 million baht, an increase of 98.25 million baht from the same period last year, or 8.42% of the increase in store sales (SSSG) and the opening of new stores the company. along with strict management As a result, the company’s gross profit was 214.87 million baht, an increase of 6.91% with a gross profit margin of 16.98%. Support net profit at 74.10 million baht, an increase from the same period last year in the amount of 4.07 million baht, representing 5.82%.
The Board of Directors Resolved to approve the payment of an interim dividend for the operating period 1 January – 30 June 2023 in cash 0.04 baht per share, set the list of people entitled to receive dividends (record date) on 22 August 2023 and dividend payment on 6 September 2023.
Currently, Thanapiriya has 43 branches in the provinces of Chiang Rai, Chiang Mai and Phayao. It aims to open 5 new branches this year (42 branches from the end of 2022) During the first half of this year, one new branch has been open up After opening for service to 47 branches as planned. bring a product to reach people in the community, including going into the high season in the North where more tourists will come to use the service
“Thanapiriya is still targeting revenue growth of 15-20% of the plan in the second half of the year which was supposed to open 4 more branches to support sales growth. In addition, tourism has completely recovered. together with the start of the North’s high season Confident that revenue in the second half of the year will grow more than the first half.” female pharmacist say
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