HMPRO’s 1Q21 Profit Increases 7.5% as Sales Improve, Online Channels Grow Strongly

HMPRO reported a net profit growth in 1Q21 of 7.5% compared to 1Q20 as sales revenue expand without store closures and online channels grew strongly.

Home Product Center Public Company Limited (HMPRO) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

HMPRO reported a net profit of 1,362 million baht in 1Q21, increased 7.58% compared to a net profit of 1,266 million baht in 1Q20.

 

Total revenues were 15,832.56 million baht, an increase of 505.27 million baht or up by 3.30%. Sales in the stores were improved in many regions except in the provinces that relied on tourism, which were still affected. Meanwhile, revenue from online channels grew strongly.

 

Selling and administrative expenses (SG&A) amounted to 2,693.23 million baht, a decrease of 16.51 million baht or down by 0.61% as compared with the same period last year. The SG&A as a percentage of sales was marginally reduced from 18.63% in the previous year to 17.89%. This resulted from the tighter cost control.The amount decreased were mainly by personnel expenses, utility expenses and depreciation.

 

At the end of Q1 2021, there were 86 HomePro stores, 9 HomePro S stores, 14 MegaHome stores and 6 HomePro Malaysia stores.

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