Index Living Mall Public Company Limited (ILM) announced its net profit for 2019 of 596 million baht – a 10-percent growth and total revenue of over 9,900 million baht supported by an across-the-board revenue growth including online sales, Younique Customized Furniture, domestic project sales, and revenue from rental and services. The Company plans for more overseas stores in Vietnam, Cambodia, and Myanmar as well as the continuous expansion of WINNER store and Younique showrooms in Thailand. The dividend payment has been set at 0.46 baht per share to propose to the shareholders’ meeting for approval on April 24th.
Miss Kridchanok Patamasatayasonthi, Managing Director of Index Living Mall Public Company Limited (ILM), Thailand’s leading integrated retailer of furniture and home furnishing products, revealed that the overall performance of the Company in 2019 managed to grow against the sluggish economy and consumers’ purchasing power, as both of the revenue from sales and revenue from rental and rendering of services showed improvement, especially the revenue from rental and rendering of services that grew impressively following increased rental spaces and improved occupancy rates. As a result, gross profit from rental and rendering of services continued to expand. The Company was also able to control and reduce selling, general & administrative expenses (SG&A) as a result of improved operational efficiency, while inventories also have decreased significantly.
Total revenue in 2019 stood at 9,903 million baht, an increase from the previous year supported by newly open Index Living Mall stores during the second half of 2018 to 2019, including Index Living Mall Bangkruai-Sainoi, Index Living Mall Chaiyapruek, Index Living Mall Chanthaburi, and the first WINNER store in Ratchaburi Province. Meanwhile, online sales and Younique experienced impressive growth, and the opening of the first two franchise stores in Ho Chi Minh City, Vietnam, at the end of last year was excessively well received. At the end of 2019, the Company had 19 franchise stores in 8 countries including Cambodia, Myanmar, Nepal, Maldives, Pakistan, Lao, Indonesia, and Vietnam.
As for the business direction in 2020, the Company has plans to open more Index Living Mall stores overseas, such as Vietnam, Cambodia, and Myanmar, plus the expansion plan in Thailand including opening more Younique showrooms and another WINNER store. The Company will also continue to focus on cost savings and inventory reduction. With all of these supporting factors, the Company expects to achieve the growth of performance in 2020 as targeted.