KCG Corporation Public Company Limited (KCG) delivered strong Q2/2023 operating results, reporting a net profit of 50.8 million baht, up 13.0%, and total revenue of 1,570.7 million baht, up 13.9% YoY. First-half performance was even stronger, with total revenue climbing to 3,293.9 million baht, a 22.1% increase, and net profit jumping 41.6% to 109.2 million baht. Sales growth was fueled by rising demand for Western food and bakery ingredients from both consumer and business segments. With production ramping up and new product innovations rolling out, KCG is confident in meeting its 2023 growth targets.

Dr. Watit Tamavimok, Chief Executive Officer and Managing Director of KCG Corporation Public Company Limited (KCG) — a leading manufacturer, distributor, and importer of butter, cheese, and world-class consumer products—revealed that KCG’s performance in Q2/2023 (April–June) showed continued growth. Total revenue reached 1,570.7 million baht, marking a 13.9% increase, while net profit climbed to 50.8 million baht, a 13.0% rise compared to the same period last year. This solid performance was driven by growing demand for Western food and bakery products across both B2C and B2B segments. The launch of new products that aligned with consumer trends received a positive response, while frozen food sales from Indoguna (Thailand) Co., Ltd. (IDG), a subsidiary acquired in March 2022, also contributed to the Company’s growth.

In the first half of 2023 (January – June), KCG recorded a net profit of 109.2 million baht, rising 41.6%. Total income reached 3,293.9 million baht, up 22.1% YoY, with 3,268.9 million baht generated from sales, an improvement of 23.2%. This performance was driven by across-the-board growth in all product categories. Dairy products brought in 1,941.9 million baht, reflecting a 22.0% rise; food& bakery ingredients earned 994.1 million baht, increasing 25.0%; and biscuits contributed 333.0 million baht, up 25.1% compared to the previous year. All distribution channels recorded strong momentum: B2B sales generated 1,340.0 million baht, rising 22.7%; B2C sales hit 1,786.8 million baht, up 23.6%; and exports brought in 142.1 million baht, marking a 22.3% increase year-on-year.

KCG’s gross profit margin began to improve in Q2/2023, supported by stabilizing and gradually declining costs of raw materials, such as milk fat, cheese, and powdered milk, as well as imported goods for sale. KCG has also nearly depleted its inventory of high-cost materials, easing cost pressures. Looking ahead, the second half of the year marks the beginning of KCG’s peak sales season, particularly in Q4, when production capacity will be significantly ramped up across butter and cheese, food and bakery ingredients, and biscuits product lines. This is expected to drive stronger economies of scale, reinforcing the Company’s confidence in a continued upward trend in gross profit margins.

Dr. Watit said that in the second half of the year, KCG plans to roll out new products and innovations across its butter and cheese, food and bakery ingredients, and biscuits categories. The aim is to generate fresh market demand and meet evolving consumer preferences for health, convenience, and great-tasting meals. With the sales season underway and continued momentum expected in the Western food and bakery sector, the Company remains confident that its 2023 performance will meet its growth targets.