HoonSmart.com >> “Exotic Food” made a profit of 318 million baht, a growth of 161%, sales revenue of 1,268 million baht, an increase of 28%. The refit of COVID-19 flags for the year ’64 strong continuation, trend of orders flowing nonstop Continuing to expand the European and Chinese markets as planned. Get to study methods for producing hemp sauce The formula is now completed and is in between the law. Set a 20-25% profit target and pay dividends at 0.44 baht per share.
Mr. Jittiporn Chantarat, Managing Director of Exotic Food (XO), a global manufacturer and distributor of Thai food sauces and cooking ingredients, revealed the business overview in 2020 was very successful. Performance hit a new record since the company’s inception Even in the COVID-19 situation Impact all over the world, but the company has a positive benefit The main product of the sauce group was received. It has a sales share of 82% in year 20, including continuous market expansion. Make more sales channels And not affected by the currency Because normally the company Sold mainly in Thai baht, about 75% of the total sales. The remainder are 20% dollars and 5% in euros.
In 2020, the company had sales revenue of 1,267.66 million baht, an increase from the previous year 276.94 million baht or 27.95% due to the situation of the coronavirus infection epidemic. Make more meals at home Therefore, the demand for sauces for cooking has expanded. In addition to an increase in the number of retailers that distribute the Company’s products. And the capacity utilization rate was at 60%, resulting in a net profit of 318.48 million baht, an increase of 161.07% from the same period of last year.
This was mainly due to the increase in sales revenue and gross profit margin. And reduction in selling expenses and Administrative expenses The gross profit margin in 2020 was 40.59%, an increase from the previous year with the gross profit margin of 35.47%, mainly due to an increase in orders from customers. Resulting in economies of scale As well as an increase in the proportion of sales of products with a high gross margin. While lower selling expenses and administrative expenses
Board of Directors To approve the payment of a cash dividend at the rate of 0.44 baht per share, with this dividend payment from the operating results for the year 2020, the part received from the activities that have been promoted to investment (BOI). The list of shareholders who are entitled to receive dividends (Record Date) is on March 10, 2021, the dividend will be paid on May 12, 2021. The company has paid an interim dividend. For the net operating profit in the first six months of 2020 at the rate of 0.168 baht per share already. Therefore, the total dividend for the year ended December 31, 2020 is 0.608 baht per share.
For the overall business in 2021, still confident that it will grow as planned. Get a marketing plan And presenting new products in the sauce segment Which has a high margin while the business outlook in 1Q2021 has continued positive direction. Based on the pending orders that entered in December of last year, listing fees also penetrated markets in Europe and China. Still according to plan Set a target for annual revenue growth of 10-15% while profit targets to grow 20-25%, setting a new record high for 2020.
In addition, the company has studied the market and developed a recipe for using hemp to produce seasoning sauce. Catch the world market trend Which is now the formula for mixing has been completed Because the company Have expertise in this field But pending clear legal provisions Hence, it is expected that hemp sauce will push the company’s margin. Can rise And is an opportunity to expand markets around the world
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