“CP AXTRA” showcased Q1/2024 performance, reaching a net profit of 2,481 million baht, increased 15%. Moving forward to expanding new stores and developing all sales channels

10 May 2024

CP AXTRA Public Co., Ltd. (referred to as CPAXT) reported its performance results for the first quarter of 2024 with a net profit of 2,481 million baht, marking a growth of 15%; and total revenue of 127,020 million baht, an increase of 6% from the same period previous year. The performance was driven by the massive growth of all sales channels, especially the total sales revenue within Omni Channel, store expansion, and store renovation both domestically and internationally.

Mr. Tanin Buranamanit, Chief Executive Officer – CP AXTRA Public Company Limited, disclosed that the Company’s achieved continuously robust performance results for the first quarter of 2024 (January – March), generating total revenue of 127,020 million baht, an increase of 6%, and a net profit of 2,481 million baht, an increase of 15% compared to the same period of the previous year (YoY). The outstanding growth in net profit resulted from same-store sales growth (SSSG), sales revenue within omni channel, store expansion and strong performance in both wholesale and retail businesses, as well as a reduction in financial costs.

The Company also targeted continuous revenue growth in 2024 by driving its growth through all sales channels:

  • Increasing sales revenue of Omni Channel at least 17% of total sales revenues within this year, emphasizing the diverse product offerings, service enhancements, and expanding service areas from the strength of wholesale-retail businesses covering of over 2,600 Makro-Lotus’s stores nationwide as distribution center and product delivery, as well as developing out-of-store salesforce team with a deep understanding of customer needs to provide comprehensive service to customers.
  • Store expansion and store renovation both domestically and internationally, as well as developing Makro-Lotus’s stores to create smart lifestyle centers for all age groups in line with local community’s needs.
  • Strengthening the fresh food segments of the Company and its subsidiaries to develop ready-to-cook and ready-to-eat meals, along with creating differentiation and increasing the sales share of own brand products (Private Label).

“CP AXTRA strives to drive its business into a global sustainable organization that builds positive changes in economic, social, and environmental aspects, reflecting our effective management. As per the progress of the company’s restructuring within the business group, all transactions will be completed within the fourth quarter of 2024. This restructuring is targeted to increase the sales volume and profit and decrease financial costs in order to generate consistent returns for shareholders and create value for all stakeholders” concluded Mr. Tanin.