HomePro posts good revenue, net profit
HOME PRODUCT Centre (HomePro) has recorded a year-on-year revenue increase of 9.97 per cent for the first nine months of the year, generating Bt45.05 billion due to higher sales income from its HomePro and Mega Home branches – and the first “HomePro Fair”.
The listed home-improvement company also posted a 19.04-per-cent jump in net profit to Bt2.8 billion for the period.
Managing director Khunawut Thumpomkul yesterday cited a 9.52-per-cent year-on-year rise in sales and a 21.38-per-cent surge in rental and service income for this year’s performance through to the end of September.
Sales rose as a result of improved volume at HomePro and Mega Home’s existing and new branches, as well as income generated during the HomePro Fair in July, he said.
Rental and service income rose sharply on the back of rises in rental income from its Market Village shopping centres – particularly from expansion at Market Village’s Suvarnabhumi branch – and the renting out of more space at the HomePro store chain, he explained.
Gross profit came in at Bt10.64 billion for the nine-month period, representing a 7.47-per-cent increase due to rising sales.
In the third quarter, the overall business sector and the economy witnessed slow growth, with sales dampened by a combination of uncertainty about a recovery in purchasing power in the provinces and the peak of the rainy season, which affected construction and home improvement, Khunawut said.
On the positive side, the company’s HomePro Fair boosted sales in the quarter, he added.
During the quarter, the company opened a further HomePro branch in Chon Buri, and another Mega Home outlet in Hat Yai.
