Osotspa Public Company Limited reveals its first-quarter net profit of 778 million baht, an increase of 3.8% from last year and 131.1% from last quarter, resulting from an increase in manufacturing efficiency and dividends received from investments. The first-quarter revenue from sales increased by 1.8% from the previous quarter to 6,545 million baht. The foreign markets grew in double digits, while the brand ‘M-150’ and ‘C-vitt’ continued to maintain their strong position as the market leaders in energy drinks and healthful vitamin C beverages.
Mrs. Wannipa Bhakdibutr, Chief Executive Officer of Osotspa Public Company Limited or OSP, Thailand’s leading manufacturer and distributor of consumer products, revealed that, as for the overall operating results of the first quarter of 2023 (January-March), the Company’s net profit, including the dividend from investments was 778 million baht, which increased by 131.1% from the previous quarter and 3.8 % compared to the same period last year. This was due to Osotspa’s manufacturing efficiency, which had been constantly improved. Consequently, the manufacturing costs such as raw materials and energy dropped, leading to a lowered cost per unit and an increased gross profit margin. As for sales revenue, the Company made 6,545 million baht, which increased by 1.8% from the previous quarter, due to the expansion in international markets, which grew in double digits, the domestic market recovery resulting from the brand portfolio strategy, and Osotspa’s strong distribution network. These factors helped the Company maintain its leading position in the energy drink market.
Furthermore, to foster long-term success, Osotspa adopted sustainable business practices in economic, social, and environmental aspects. More importantly, to promote consumers’ health and well-being, the Company gradually adjusted the product formulas for domestic beverage markets, including all new product developments, to become low-sugar and/or zero-sugar products in response to the emerging health trend. This effort also helps lessen the impact of the recent sugar tax hike while catering to a diverse range of customer needs.
“The performance in the first quarter indicates steady growth both in sales revenue and net profits. This emphasizes that we, Osotspa, have overcome all challenges by relentlessly adapting and improving ourselves. We are more than ready to thrive sustainably,” said Mrs. Wannipa.
As for the second quarter, the Company will strive to develop innovative products and launch great marketing campaigns to serve multiple customer lifestyles. For example, introducing five new presenters for the M-150 brand to expand its consumer base, as well as penetrating the healthy soda drink segment by launching ‘Shark Ume Soda,’ an innovative healthy soda drink with zero calories, 0% sugar, and vitamins that suits the trend of healthy living. Moreover, Osotspa will continue to focus on evolving its organization in every aspect, such as improving the way of work for better efficiency and flexibility, as well as pushing forward its sustainable operation across all societal and environmental dimensions to deliver the best products to customers and foster steady, long-term growth for the business.
