BJC reveals results for 2Q22; Modern Retail business main driver for a strong consolidated net profit reaching THB 1.2 billion for the quarter, up 46.3% from last year.
Berli Jucker Public Company Limited ("BJC" or the "Company") announced its 2Q22 earnings to the Stock Exchange of Thailand (SET). The Company's net profit for the quarter reached 1,203 million baht, an increase of 46.3%. Whilst most supply chains posted year-on-year sales growth, the growth was particularly driven by the strong performance of Packaging Supply Chain due to continued recovery in Thailand and Vietnam, and Modern Retail Supply Chain due to the strong same-store sales growth (SSSG) driven by recovering non-food sales and continued good dry food sales, due to improving COVID situation and better seasonal events such as Songkran holiday and Back-to-School season during the quarter.
BJC's consolidated total revenue for 2Q22 reached THB 41,390 million, representing an increase of THB 4,289 million or +11.6% over the same period last year. This increase was mainly driven by the consolidated sales and service revenue increasing +11.5% over the same period last year, driven by increasing sales in Packaging, Healthcare and Technical, and Modern Retail Supply Chains. BJC's Consolidated other income reached THB 3,242 million, an increase of THB 324 million or +11.1% over the same period last year, mainly driven by increasing other income at Modern Retail Supply Chain due to the continued economic recovery leading to improving rental rates and lower average discount provided to tenants when compared with the same period last year.
For the first half of the year, BJC's Consolidated total revenue for 1H22 reached THB 80,812 million, representing an increase of THB 8,094 million or +11.1% over the same period last year, mainly driven by increasing sales in Packaging, Healthcare and Technical, and Modern Retail Supply Chains, and increasing other income.
Packaging Supply Chain reported sales of THB 6,062 million, an increase of THB 1,177 million or 24.1% over the same period last year. The strong sales growth was driven by strong sales from the alcohol, food and pharmaceutical categories, as well as the continued economic recovery in Thailand and Vietnam, positively impacting both Glass and Aluminum Can packaging businesses, and the higher selling price of the packaging products reflecting increasing raw material and utility costs.
Consumer Supply Chain reported sales of THB 5,326 million, a decrease of THB 353 million or -6.2% over the same period last year, as although Food, Non-Food, and International Trading business segments delivered solid year-on-year growth for the quarter, the declining sales at the Logistic business segment due internal move of Big C logistic management from Logistic business segment back to Modern Retail Supply Chain since the beginning of the year, dragged down the overall sales when compared to same period during last year.
Healthcare & Technical Supply Chain reported sales of THB 2,324 million, an increase of THB 135 million or +6.1% over the same period last year, due to increasing sales at the Technical Supply Chain driven by strong growth at Specialties, Graphic, and Engineering Divisions.
Modern Retail Supply Chain reported total revenue of THB 27,836 million, an increase of THB 2,597 million or 10.3% over the same period last year. This was driven by a retail sale increasing to THB 24,718 million, due to the new store openings, and continued same-store-sales recovery. The strong same-store-sales performance was driven by strong recovery of our softline and homeline categories and continued good dry food sales, as we saw good Songkran holiday and Back-to-School season as these events had been negatively impacted during the past two years by the Covid pandemic situation
BJC's Board of Directors Meeting approved the 2022 interim dividend payment at the rate of THB 0.15 per share, which will be paid on 8th September 2022.