Mr. Yol Phokasub reports Central Retail’s Q1/2023 financial performance, strong business growth, and expansion plans in Thailand and Vietnam.
Central Retail Corporation’s Q1 2023 Performance
Mr. Yol Phokasub, CEO of Central Retail Corporation (CRC), announced that the company achieved an excellent start in Q1 2023, with revenue and profit exceeding pre-Covid-19 crisis levels. The company’s performance in Q1 showed a total revenue of THB 63,206 million (+12% YoY), EBITDA of THB 8,179 million (+24% YoY), and a net profit of THB 2,312 million (+75% YoY). These results are indicative of Central Retail’s further growth prospects in 2023, with a projected 12-15% increase in revenue.
Key Factors for Central Retail’s Growth
The company’s strong performance in Q1 can be attributed to its flexible portfolio, agility in adapting to changes, and strategic moves during the Covid-19 crisis. Central Retail has also focused on developing its stores and elevating its Next-Gen Omnichannel platform, leading to positive growth in the Thai and international markets. The department stores, Thai Watsadu, Tops, and Robinson Lifestyle have all experienced significant growth and expansion in Q1.
Business Highlights in Different Categories
Central and Robinson Department Stores have seen strong growth with increased sales, especially in fashion, due to the recovery of international tourism. Thai Watsadu has strengthened its position in the hardline category, while Tops has reinforced its leadership in the food category. Robinson Lifestyle continues to expand in Thailand, and Central Retail’s presence in Vietnam continues to grow, with successful models like GO! shopping mall and hypermarkets. With this positive momentum, Central Retail remains committed to driving inclusive and sustainable growth in the retail industry.