Central Retail Corporation (CRC) reported record revenue of 236 billion baht in 2022, an increase of 21% from the previous year.
Net profit in 2022 was 7.6 billion baht, a surge of 2,648% from a year earlier.
The retail conglomerate yesterday announced a dividend of 0.48 baht per share.
Yol Phokasub, chief executive of CRC, attributed the gains to the company's strategy.
In the fourth quarter of 2022, CRC reported revenue of 65.1 billion baht, up 11% year-on-year. Earnings before interest, taxes, depreciation, and amortisation (Ebitda) totalled 9.5 billion baht, up 18% year-on-year. Net profit rose 39% to 3.41 billion baht.
Mr Yol said CRC had built a strong financial foundation under the 3C strategy, consisting of cost, capital expenditure (capex) and cash flow.
Cost focuses on expense management to achieve maximum efficiency, while capex emphasises effective investment in strategic business.
Cash flow looks to expand capabilities in managing and increasing cash flow to make the company fit and firm, speeding up business growth.
Of the total CRC sales in 2022, 40% stemmed from the food category, 34% came from hardline, and 26% from fashion.
Divided by country, 69% of total sales revenue came from Thailand, while Vietnam contributed 24% and Italy 7%.
Omni-channel sales saw 15% growth from the previous year, contributing to 18% of total sales.
Mr Yol said CRC achieved strategic success by spinning off MEB Corporation, a business unit under Central Retail.
MEB was listed on the Market for Alternative Investment on Feb 14 this year. As of Feb 27, MEB's market capitalisation had reached 12.1 billion baht.
CRC also recorded significant success in Vietnam, securing its position as the largest international retailer in the country.
The company continues to expand its business in Vietnam, with planned investment of 50 billion baht over the next five years.
"CRC moves ahead towards the next sustainable growth across all business categories and markets. We're committed to enhancing the quality of life for societies, communities, and the environment," said Mr Yol.
"The company is confident it will continue to drive compounding growth, thanks to positive factors in retail and service industries, including the reopening of borders and an increasing number of international travellers in Thailand, Vietnam and Italy.
"This, in turn, will inject a large sum of funds into the countries' economies and be a direct benefit to the group's businesses under Central Retail."
