THIP Q2/64 budget has a top performance with profit of 62.2 million baht and 911.8 Million Baht of Sale volume. But supply chain may shocks caused by H2 of Covid-19 pandemic.August 13, 2021
Thantawan Industry PLC. (THIP) reported a performance on Q2 of 2021; a profit of 62.2 Million Baht increasing at 6% from the previous year and sales volume of 911.8 Million Baht, growth rate at 31%, 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. The expansion of new markets for long-term growth were taken place and new innovative SUN’s brand products were launched as well. In the last half of the year after Covid-19 situation, Covid-19 affects the supply chain of packaging industry despite continued demand.
Ms. 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 Q2/2021 had a net profit of 62.2 million baht, an increase of 3.5 million baht or 6% compared to the same period of last year which had a net profit of 58.7 million Baht and a net profit per share of 0.69 Baht per share an increase from Q2/2020 with a net profit per share of 0.65 baht per share while the total sales revenue was 911.8 million Baht, an increase of 215.8 million baht or 31. Comparing from the same period of last year, it had total sales revenue at 696 million baht and gross profit margin accounted for 17.33% of sales, a decrease from the same period of last year at 20.82% due to the prices of raw materials increased significantly from the end of 2020 until the end of Q1/21. It leads to an increment of cost of sales by 202.7 million baht or 36.8. Additionally, the company’s sales came from 85% of foreign customers and 15% of domestic customers.
“Overseas sales grew continuously as planned due to the market expansion, especially customers in Europe, America and other countries. The prolonged shortage of shipping containers on export was not a big deal since it did not significantly impact our sales volume. We handled it by implementing rolling style, i.e. last month’s hold – exported this month instead. Meanwhile, the domestic market is affected by Covid-19 pandemic and lockdown policy. We are committed to managing and taking proactive measures to achieve business goals.” said Ms. Pojanard
Business trends in the half of 2021 are expected that will continuously grow from the packaging sectors. We expanded our production capacity to support increment demand from foreign customers and market expansion to thrive the business in the long term. We strengthen SUN brand to be well-known.
Strategy was to drive our own brands. We believe in our products as an assistant in the new normal lifestyle based on current consumer behavior focusing on healthcare and hygiene. The most essential thing about our products is how to make consumers feel safe and easy to use, such as SUNZIP antivirus multipurpose zip bags containing matter and food. It also inhibits the growth of viruses by more than 99%.
We strived to make our products accessible to various customer segments. For example, Kitchen Neat and Multipurpose Gloves (reducing direct contact with objects or things), Fresh & Fresh shelf-life extending bags for fruit and vegetables (staying healthy with the bag preserving fruits and vegetables to edible longer). Lastly, Red trash bags (separating the disposable masks for one-time use)
As the new wave of COVID-19 pandemic in Thailand, it has a widespread impact on society. It also affects the supply chain of the packaging sector. The company, therefore, hastened to adjust our action plan to carry out production, to manage staff for delivering goods, to prevent the spread of infection by establishing factory isolation supporting an employee who needs to quarantine at home. As a result, production was running normally. We delivered products to customers on time.