THIP allocated the budget for Q1/2021, nearly 82 Million Baht Profits with 816 Million Baht of Sales volume. We planned to expand production capacity and launch new products in Q2May 20, 2021
Thantawan Industry PLC., (THIP) reported a performance on Q1 of 2021; a profit of 81.8 Million Baht increasing of 14.8% from the previous year and sales volume of 816.3 Million Baht, growth rate at 8.9%, aligned with the increment of orders. We targeted business goals for 2021 by continuously increasing production capacity to respond to the high demand from foreign customers and launching new innovative SUN’s brand products within Q2/2021 responding to health trends and emphasis on cleanliness and safety in daily use.
Mrs Pojanard Prinyapatpakorn, Chief Executive Officer of Thantawan Industry Public Company Limited (THIP); a manufacturer and distributor of international quality packaging, reported that the company’s turnover of Q1/2021 had a net profit of 81.8 million baht, an increase of 10.6 million baht or 14.8% compared to the same period of last year which had a net profit of 71.2 million Baht and a net profit per share of 1.02 Baht per share, an increase from Q1/2020 with a net profit per share of 0.89 baht per share while the total sales revenue was 816.3 million Baht, an increase of 67 million baht or 8.9%. Comparing from the same period of last year, it had total sales revenue at 749.3 million baht and gross profit margin accounted for 21.8% of sales, a decrease from the same period of last year at 22.8% due to the prices of raw materials increased significantly from the end of 2020 until the end of Q1/21. It resulted in an increment of cost of sales by 59.4 million baht or 10.2%.
“Our sales increased because of the expansion of customer bases and high order volumes from new normal behaviors during COVID-19. As a result, the demand for packaging continuously gained especially in the international markets, as our main markets, grew by 12.5%. Revenue from other products consists of shower sponge, food wrap film plastic pellets and scrap and other products. Food wrap film is a major growth in this product category which offered many marketing campaigns since branding is still an important strategy for the company.” said Mrs. Pojanard. The business trend in Q2, packaging sector was forecasted to steadily grow whereby the company expanded our production capacity to meet the increasing demand from foreign customers and new markets for long-term business growth of the SUN brand.