KCG Corporation Public Company Limited (KCG) announced impressive first quarter 2024 results, with net profit surging 22.5% year-on-year to THB 71.6 million and total revenue reaching nearly THB 1.8 billion. CEO Damrongchai Vipawatanakul attributed the strong performance to rising private sector consumption, increased tourism activity, improved gross profit margins, and effective financial cost management. This strong performance signals continued growth into the second quarter, driven by the planned launch of the KCG Logistics Park to enhance inventory management capabilities, reduce expenses, and support sustainable growth.
Mr. Damrongchai Vipawatanakul, Chief Executive Officer and Managing Director of KCG Corporation Public Company Limited (KCG), a leading manufacturer, distributor, and importer of butter, cheese, and premium consumer products from around the world, revealed that for the first quarter of 2024, KCG recorded total sales of 1,785.5 million Baht, up 4.5% from the same period last year, with Dairy Products contributing 1,085.7 million Baht (60.8% of total sales), Food, Bakery & Ingredients (FBI) 515.7 million Baht (28.9%), and Biscuits 184.0 million Baht (10.3%). By channel, B2B sales reached 729.1 million Baht (40.8%), B2C 991.8 million Baht (55.5%), and exports 64.5 million Baht (3.6%).
“In the first quarter of this year, we continued to deliver strong performance, supported by the New Year festive season carrying over from year-end into the start of the year, during which our products remained in trend and in high demand,” said Mr. Damrongchai Vipawatanakul. “In addition, the Valentine’s season saw strong demand for our butter, cheese, and other dairy products, as well as our food, bakery, and biscuit categories, which were widely used in related businesses. KCG is also in the process of SKU rationalization, and as new products are increasingly distributed to the market while sales of replacement products gradually rise, we expect our sales growth to accelerate for the remainder of the year.”
Regarding progress on the KCG Logistics Park distribution and warehouse, consisting of six buildings designed to store raw materials and products across all temperature ranges, including ambient, air-conditioned, chilled, and frozen. KCG successfully commenced operations for two buildings in early April 2024. The remaining four buildings are under construction and progressing according to plan, with operations expected to begin within the second quarter of 2024, and all six buildings set to be fully operational in the second half of the year.
The newly constructed KCG Logistics Park will enhance inventory management efficiency through the use of advanced warehouse management technologies, while reducing the costs associated with renting external storage facilities. This development is expected to play a key role in driving KCG’s sustainable growth in the future.