Central Retail net profit up by over 2,600% in 2022

Its net profit amounted to THB7.605b (US$220m). 

Central Retail reported its net profit grew by 2,648% to THB7.605b, approximately US$220m, in 2022. 

Over the same period, its revenue reached THB236.24b (US$6.8b), representing a 21% year-on-year growth. 

“Central Retail moves ahead towards The Next Sustainable Growth across all business categories and markets, whilst remaining committed to enhancing the quality of life for societies, communities, and the environment,” Yol Phokasub, Central Retail CEO, said. 

“Moving forward, Central Retail is confident it will continue to drive leaping growth with the positive factors in the retail and service industry, including the reopening of borders and an increasing number of international travellers in Thailand, Vietnam, and Italy, which in turn will promise a boost of a large sum of funds into the economy and a direct benefit to our businesses under Central Retail.”

Read more: Central Retail invests US$1.45b in Vietnam operations

Central Retail in particular recorded a 16% sales growth in Thailand, 34% in Vietnam, and 27% in Italy. 

Meanwhile, its property business recorded a 37% sales growth, followed by its fashion segment (30%), food (20%), and hardline (15%).