Ichitan Group PCL (ICHI)

Editorial Staff

ICHI reveals Q1/23 performance, aiming for a new high. Refreshing drinks push production capacity to set the new record.

Ichitan Group PCL (ICHI) has reported a thriving business in the first quarter with the remarkable launch of Tansansu's new products.

To cope with the hot weather, the company has increased its production capacity, reaching a milestone of over 100 million monthly bottles in March for the first time in its 12-year history.

Moreover, the economy is recovering and preparing for a surge of tourists. The company is confident that it will achieve its revenue target of 7.3 billion baht, a 15% increase from last year, and maintain its planned gross profit margin of 20%. The shareholders' meeting approved a dividend of 0.60 baht per share.

Mr. Tan Passakornnatee, CEO of Ichitan Group PCL, said that the company conducted the 2023 annual general meeting of shareholders through a live broadcast via electronic media (E-AGM). All the proposed resolutions by the board of directors were approved, including the payment of a cash dividend of 0.60 baht per share from net profit and retained earnings for 2022.

However, dividend recipients will not receive a tax credit for the promoted portion (BOI). The company expresses gratitude to its supporters and shareholders by setting the XD date on May 9, 2023, and the dividend payment date on May 24, 2023.

Q1/2023 shows promising prospects for the company, aiming for a new high in profitability thanks to the successful launch of new products and hot summer weather conditions. The company's economy-sized and affordable products are top-rated, combined with their strengths and product development strategies that exceed customer expectations.

Products such as Tansansu Korean Soda, YenYen Herbal Tea, Ichitan Green Tea, and PH Plus; Ichitan Alkaline Water are experiencing a steady rise sales.

While the OEM business also contributes to revenue growth by producing beverages under 2 major deals, increasing production capacity utilization, and improving cost management.