Index Living Mall Public Company Limited (ILM) revealed its Q2/2019 net profit of 158 million baht which was a 20-percent, or 26-million-baht, growth over the 132-million-baht figure for Q1/2019. Business expansion plan in the second half of the year to include the opening of Index Living Mall branch in Chanthaburi and a small furniture store COCO in Ratchaburi. Also, in the pipeline is the opening of Index Living Mall franchise in Vietnam.
Miss Kridchanok Patamasatayasonthi, Managing Director of Index Living Mall Plc. (ILM), Thailand’s leading integrated retailer of home furnishings, revealed the overall picture of the Q2/2019 performance (April-June 2019) that the Company had an overall net profit of 158 million baht, equivalent to an increase of 20 percent compared to the net profit in Q1/2019 (January-March 2019) of 132 million baht. However, the total revenue of 2,426 million baht was a slight 0.8 percent decline compared to the total revenue for Q1/2018 of 2,446 million baht. The factor leading to the increase in net profit was that ILM earned more from the space rental as well as the move to exercise the tax privileges through the investment promotion as granted by the Board of Investment of Thailand (BOI).
As for the overall picture of the performance in the first six months of the year (H1/2019), the net profit came to 290 million baht, a 43-percent increase over the same period of the previous year which was 202 million baht although the total revenue for the period of 4,872 million baht was marginally lower than H1/2018’s figure of 4,890 million baht. This performance was due to the impact of the overall economic situation which still has yet to show a discernable recovery. This has influenced the consumers’ confidence and purchasing decision. However, the Company still managed to post an increase in net profit.
The ILM Managing Director further said that, following the Company’s listing on the Stock Exchange of Thailand (SET), ILM has moved ahead with its business plan. Very recently, ILM has officially opened Index Living Mall Chanthaburi Branch on August 2, 2019, to support the demand for furniture and home decoration items in the province and nearby areas. This branch will also support the border trade with the neighboring country, namely Cambodia, that has been expanding continuously.
In addition, preparations have been made to open a small furniture store (COCO) Winner Furniture Center in Ratchaburi within August 2019. There is also a plan to open an Index Living Mall franchise in Vietnam within Q3/2019 that will undoubtedly have a positive effect on ILM’s performance in the second half of the year.
Chanthaburi Province is considered to be an economic powerhouse in the eastern seaboard region of the country with robust revenue from the agriculture sector along with gems and jewelry, tourism and fishery. For the future, the government sector has a plan to construct a dual track for trains that will run through Sri Racha Junction, Rayong and Maptaput, Chanthaburi, and Klongyai in Trat Province. This development will lead to the expansion of the towns and businesses near the rain stations and increase the demand for furniture and home decoration items to improve and beautify homes of the people in this region.