TAN has announced impressive first-quarter results for 2024, achieving an all-time high quarterly revenue of THB 458 million, an increase of 30% compared to the same period last year. Net profit attributable to equity holders grew by 21% to THB 60.4 million. These results were accompanied by an all-time high gross profit margin.

The revenue growth was driven by three key factors:

1. Strong sales growth at existing stores
2. The expansion of new stores with high returns
3. The expansion into the food and beverage business

Profit growth was driven by increased sales at existing stores, which outpaced the average growth rate of the retail industry in Thailand. The strong performance of the Pandora and Marimekko brands also contributed to profit growth, reflecting the company's success in delivering the best value of its brands to its target customers.

HARNN also continued to grow well and is on track for export to China in the third quarter of this year. The food and beverage business continued to perform well and generated a strong gross profit margin for the company.

In addition, the company plans to open the first store of the UNITED ARROWS brand from Japan in June. The company maintains its guidance for revenue and profit to grow by another 20% this year.

For more information on the company's results, please visit https://www.set.or.th/en/market/news-and-alert/newsdetails?id=17152924536360&symbol=TAN

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