CP Axtra Plc, the operator of leading wholesale and retail brands Makro and Lotus's, reported total revenue of 130 billion baht in the first quarter this year.
The company's adjusted net profit increased by 10.3% year-on-year to 2.64 billion baht, driven by a strong performance across both the wholesale and retail businesses.
Key contributors to this growth included new store openings and robust omni-channel sales, fresh food sales, the company's private label products and exclusive brand products available only at Makro and Lotus's, according to the company.
In addition, the synergistic value resulting from the post-amalgamation process led to an improved gross profit margin.
CP Axtra also implemented prudent financial management practices, reducing debt and enhancing cash flow, helping to maintain robust liquidity and a strong financial position.
"Strong growth in the first quarter aligns with our strategic direction, which focuses on increasing revenue contributors from private label products across all categories at value prices," said Tanin Buranamanit, group chief executive of CP Axtra.
He said the company is expanding its ready-to-cook and ready-to-eat offerings through collaborations with renowned chefs and leading local and international brands, aiming to deliver a distinctive experience that meets the diverse needs of both consumers and entrepreneurs.
Mr Tanin said the company's 2025 business centres on driving growth across all sales channels.
CP Axtra is advancing its technology and platform capabilities by leveraging hyper-personalisation artificial intelligence to analyse customer behaviour.
The company continues to expand its store network, renovate existing locations and develop rental spaces under the "Happy Community, Happy Mall" concept, tailored to the unique needs of each community.
This approach promotes community health and well-being while supporting sustainability, employing locals through initiatives such as Mitrtae Shohuay, the Super 60 project, and direct sourcing from local farmers and small and medium-sized enterprises.
The company also fosters strong community engagement through a range of social activities.
In addition, CP Axtra reaffirmed its position as a leader in retail tech in Asia. In March, Euromonitor International ranked Makro PRO the No.1 grocery e-commerce platform in Thailand, capturing a 39.5% market share in 2024. The Lotus's SMART App secured the second-largest share at 19.5% in Thailand's grocery e-commerce market, valued at 64 billion baht.