Betagro Plc (BTG), Thailand's leading branded food company, posted a strong improvement in its revenue and bottom line in 2022.
Revenue last year surged 31.3% over 2021 to 114 billion baht. Net profit leaped 686% to 7.93 billion baht, representing a net profit margin of 7%.
BTG is prepared to pay a dividend of 1 baht per share.
The robust financial performance in 2022 was the result of across-the-board growth in core business groups including agribusiness, food and protein, international, and pet food.
In addition, more effective cost control and benefits from economy of scale also contributed to the growth in profit, said the firm.
BTG is pushing for sustainable growth in 2023.
Vasit Taepaisitphongse, chief executive and president of BTG, described 2022 as a successful year for Betagro, buoyed by its world-class branded food company strategy.
In the fourth quarter of 2022, BTG's revenue rose by 25.5% year-on-year to 30.1 billion baht. Net profit was up 3.8% in the same period to 1.79 billion baht.
Earnings before interest, taxes, depreciation and amortisation (Ebitda) in 2022 reached 14.5 billion baht, up 155% from 5.69 billion in 2021.
The Ebitda rate in 2022 was 12.7%, up from 6.6% in 2021, propelled by an increase in gross profit and profit margins of the company's food and protein business, price adjustments for pork, chicken, eggs, processed food and processed meat, as well as the effective management of sales and administrative expenses.
Mr Vasit said BTG was selected for the Morgan Stanley Capital International (MSCI) index, with BTG shares forming part of the calculation for the latest round of the MSCI Global Small Cap Index, after listing on the Stock Exchange of Thailand late last year.