CRC profit up 12% to B8.02bn

CRC profit up 12% to B8.02bn

Central Retail announced a 5% increase in revenue last year to reach B249bn

Mr Yol says CRC remains committed to driving sustainability initiatives that benefit society and the environment.
Mr Yol says CRC remains committed to driving sustainability initiatives that benefit society and the environment.

Central Retail Corporation Plc (CRC) reported net profit of 8.02 billion baht in 2023, a 12% increase from the previous year, on revenue of 249 billion, up 5%.

Earnings before interest, tax, depreciation and amortisation was 32.4 billion baht, an 8% increase year-on-year.

Yol Phokasub, chief executive of CRC, said the company aims to distribute a dividend of 0.55 baht per share to its shareholders, which is 15% higher than the previous year, with approval pending the annual general meeting.

"These results reflect Central Retail's robust ecosystem that is both adaptive and resilient, navigating business challenges and maintaining healthy finances," he said.

"Ending the year on a new high, the company is reinforcing its No.1 position as the next-generation omni-retailer and wholesaler across every business category."

Mr Yol said Central Retail remains committed to driving sustainability initiatives that benefit society and the environment. Last year, the company reaffirmed its dedication to corporate governance, instilling sustainability principles across all aspects of its operations, he said.

As part of its ongoing efforts to combat the climate crisis, Central Retail increased its use of renewable energy to 15.7% of its total consumption. The company installed solar cell systems at 136 branches, resulting in a greenhouse gas emission reduction of more than 50,000 tonnes, said Mr Yol.

In addition, he said the company supports local products from more than 100,000 households.

These efforts help to solidify CRC's position as a green and sustainable retail and wholesale model in Asia, said Mr Yol.

He said the company remains committed to business excellence in 2024, driven by the vision of "CRC Omni-Intelligence".

This approach aims to elevate the retail and wholesale industry by seamlessly integrating artificial intelligence (AI) into every facet of the business, said Mr Yol.

"AI will not only empower staff through upskilling, but also serves as a powerful tool to create hyper-personalised omni-experiences for customers," he said.

The company plans to renovate stores and add more than 40 new branches in key formats in Thailand and Vietnam, said Mr Yol.

CRC also wants to focus on scaling up business-to-business operations and fostering deeper integration with diverse communities, strengthening its network and long-term customer value, he said.

"Central Retail prioritises the well-being of all stakeholders, remaining committed to driving sustainable growth," said Mr Yol.

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