ILM reported its Q2/2022 net profit of 162.3 million baht, increased by 60.7% YoY and 1.0% QoQ, the highest in 11 quarters since Q3/2019. Revenue from rental and rendering of services made a new high again. The Company announced an interim dividend payment of 0.20 baht per share.

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 the Q2/2022 operating results that the Company recorded total revenue of 2,169.6 million baht, increased by 5.9% YoY, despite the Company's termination of home electric sale under the brand of Power One and had the sales area of Power One rented by Com7 Public Company Limited (COM7) since the beginning of 2022. Net profit in Q2/2022 reached 162.3 million baht, the highest in 11 quarters since Q3/2019, which was the period before the COVID-19. Net profit in Q2/2022 increased by 60.7% YoY and 1.0% QoQ, supported by growth from retail sales, domestic project sales, overseas franchise sales, a new high of revenue from rental and rendering of service, and significantly improved gross profit margin. With strong liquidity and continuous long-term loan prepayment, the Company announced an interim dividend payment of 0.20 baht per share for the operating results during 1 January to 30 June 2022, an increase from the interim dividend payment of 0.15 baht per share for the operating results during 1 January to 30 June 2021.

Miss Kridchanok further clarified that after the government's latest easing of the lockdown measures on 1 September 2021, the Company's operating earnings have been recovering significantly. Net profit in Q4/2021, Q1/2022, and Q2/2022 were higher than the same periods in 2019 which were the pre-COVID-19 outbreak, especially the Q2/2022 net profit which made a new high in 11 quarters since Q3/2019.

Thai economy still has risk factors from concerns about the global economic slowdown, the ongoing conflict between Russia and Ukraine, and high inflation from rising oil and food prices, which caused the cost hike and increased cost of living. However, the Thai economy in the second half of 2022 tends to be improving, including expanding private consumption, increasing private investment, and especially significant recovery of tourism. Therefore, the Company anticipates that its operating results will continue to rise, supported by growth from revenue from sales and from rental and rendering of services, well maintained gross profit margin from increased selling prices following the rising costs, sales promotion planning that meets customer needs, effective cost management, new store expansion plan of Index Living Mall - Lat Krabang at the end of 2022 and Little Walk - Krungthep Kreetha around in the middle of 2023, overseas Index Living Mall franchise store expansion plan, new sales channel development, and collaboration with more partners to help support the Company to further grow steadily, concluded Miss Kridchanok.