During the year, the company simultaneously developed and sourced for new business innovations to better respond to the demands of customers by launching new brands such as SKYNLAB, a line of pharmaceutical and oral care products etc.
Chairman, Director and Chief Executive Officer
The people of Thailand commemorated the first anniversary of the passing of King Bhumibol Adulyadej with solemn ceremonies and devotions in 2017. In remembrance of the late King, the management team and employees of Karmart shall carry on the teachings of the great King, adapt his philosophy of Sufficiency Economy for business operations and commit to good corporate governance while placing importance on attending to all business stakeholders appropriately and fairly. Furthermore, the company shall also continue placing emphasis on contributing to the society and environment for sustainable economic and societal growth.
With regards to business turnover in 2017, total income achieved is 1,551 million baht which represents an increase of 7%. Total net profit stands at 282 million baht, an escalation of 7% relative to last year’s margin and being the highest profit margin realized by the company thus far. Since the company’s entrance into the cosmetics industry following a business transformation in 2009, the company has been continuously achieving the predetermined Gross Profit Margin from year to year although the business was affected by numerous uncontrollable external factors in the past decade or so,. In addition, the Board of Directors has regularly issued stock and cash dividends based on prudent consideration of the company’s past performances throughout the years. During the 2nd quarter this year, the company additionally declared and issued total stock dividends of 219,854,286 shares to existing shareholders in the proportion of 3 original shares per 1 stock dividend and issued additional common stocks to increase the company’s capital so as to support the offering of 574,941 shares for sale to the directors, managers and employees under the ESOP Scheme.
During the year, the company simultaneously developed and sourced for new business innovations to better respond to the demands of customers by launching new brands such as SKYNLAB, a line of pharmaceutical and oral care products etc. The plan of establishing a new packing and packaging facility to further enhance quality control and support future market expansion was postponed but shall be expected to complete by mid of 2018. Complementing the expansion of manufacturing capabilities are our continued efforts in sourcing for best quality materials from all over the world so we may continue to provide highest quality products at the most reasonable prices for our customers.
In terms of investment in associated companies in the 3rd quarter, The Iconic Property Company Limited (Associated Company) entered into a memorandum of understanding for sale and purchase of land with a public listed real estate development company and the date of land ownership transfer and payments shall be determined in 2018.
As we march towards the company’s aim of enhancing our position as a market leader and innovator in Asia as well as establishing our brands globally in the foreseeable future, we remain committed to the values underlying our vision and mission. On behalf of Karmarts Public Company Limited, the Board of Directors would like to express our deepest and most sincere appreciation to our business partners, stakeholders, Karmart employees and communities at large for their continued support towards the company. With the support of so many, we are confident that Karmart will very soon realize our vision to become “One of the leading branded beauty providers for everyone worldwide” as we continue to learn, improve and innovate.