Mitihoon – Ichitan Group Public Company Limited (ICHI) has continued its strong growth momentum, reporting outstanding results for the second quarter of 2024. Revenue reached 2,304.2 million baht, marking a 13.5% increase year-on-year, while net profit surged 48.2% to 378.9 million baht.
Efficient raw material cost management contributed to an improved gross profit margin of 26.4%, driving exceptional performance. The company also benefited from robust domestic sales growth, driven by factors such as the hot weather and increased tourism. With the anticipated boost from Thailand’s Digital Wallet initiatives, Ichitan is well-positioned for further growth in the second half of the year.
Mr. Tan Passakornnatee, CEO of Ichitan Group, revealed that the company has achieved an all-time high for the 31st consecutive quarter. This success is driven by the strong performance of all domestic products, including the “Ichitan” ready-to-drink green tea and non-alcoholic beverages such as “Yen Yen”, “Ichitan pH Plus; Alkaline Water”, “Shizuoka”, “Tansansu”, and “Tan Power”.
For the second half of the year, Ichitan plans to launch several new products:
- “Yen Yen Tanghulu Strawberry”: A new beverage targeting Gen Z consumers.
- “Shizuoka Jasmine Mildly Sweet”: A premium ready-to-drink green tea for the premium market.
- “Yen Yen x Nestle La Frutta”: An ice cream collaboration between Nestle and Ichitan Group.
The company is confident in achieving its annual sales target of 9 billion baht through efficient production management, ongoing marketing efforts, and expansion of digital marketing channels. Ichitan remains committed to being a socially responsible Thai brand while driving business growth.
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