CP AXTRA Public Co., Ltd. (CPAXT) revealed its Q1/2024 performance, boasting a 15% surge in net profit to 2,481 million baht, alongside total revenue hitting 127,020 million baht, up by 6% from the previous year. The stellar results were fueled by robust growth across all sales channels, particularly in Omni Channel sales revenue, store expansion, and renovations both domestically and internationally.
Mr. Tanin Buranamanit, CEO of CP AXTRA Public Company Limited, shared that the company achieved consistently strong results in Q1/2024, with total revenue reaching 127,020 million baht, a 6% increase, and net profit hitting 2,481 million baht, a 15% rise compared to the same period last year. The notable increase in net profit was driven by same-store sales growth (SSSG), Omni Channel sales revenue, store expansion efforts, and solid performance in both wholesale and retail sectors, coupled with a decrease in financial costs.
CP AXTRA aims for continued revenue growth in 2024 by focusing on all sales channels:
- Increasing Omni Channel sales revenue to at least 17% of total sales revenues within the year, by enhancing product offerings, service quality, and expanding service areas leveraging over 2,600 Makro-Lotus stores nationwide as distribution centers and delivery points, along with developing an out-of-store salesforce team to cater to customer needs comprehensively.
- Expanding and renovating stores domestically and internationally, while developing Makro-Lotus stores into smart lifestyle centers catering to diverse age groups and local community needs.
- Strengthening the fresh food segments and subsidiaries to offer ready-to-cook and ready-to-eat meals, while emphasizing own brand products (Private Label) to enhance differentiation and increase sales share.
Mr. Tanin emphasized CP AXTRA’s commitment to becoming a globally sustainable organization, driving positive economic, social, and environmental changes through effective management. The company’s restructuring within the business group is expected to be completed by Q4/2024, aimed at boosting sales volume and profit, reducing financial costs, and ensuring consistent returns for shareholders while creating value for all stakeholders.
