Bangkok Post

CRC profit up 12% to B8.02bn

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

C entral

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.