"Greetings to all shareholders. 2022 undoubtedly presented itself as a year of hope, with majority of the world bouncing back from the downs associated with prolonged years of Covid-19 outbreaks. Being one of the first economies worldwide to open itself to tourists and business travelers through spearheading sandbox programs, Thailand achieved an annual economic growth of 2.6% in 2022 to arrive at THB 17.4 trillion (495 billion US dollars) Gross Domestic Product as opposed to a 1.5% growth in 2021. The favorable result was driven by both a recovery of tourism and improvement in domestic demand."
The Board of Directors
KARMARTS PUBLIC COMPANY LIMITED
Private consumption expenditure produced an especially strong increase of 5.7% in the past year and brought along with it a boost of sales in KARMART’s beauty business, an integral part of personal care and consumption.
Despite having commentaries described Thailand as “approaching a historic turning point amid political uncertainties in 2022, domestic environment within the kingdom was generally stable in the past year, thereby leading to improved consumer confidence. This is as opposed to the still-ongoing war between Russia and Ukraine which set the stage for worldwide inflation and eventually led to the worse inflation witnessed in decades. In Thailand itself, headline inflation hit a 24-year high of 6.08% in 2022, with the core rate at 2.51%. With that, every aspect of a business becomes more expensive, and cost and expenditure control surfaced as the top priority of the management team.
With seizure of blooming sales opportunities and management of inflated expenses hanging on both critical ends, the Company achieved total Operating Revenue of THB 1,910 million for the past fiscal year, which represents an increase of 27.08% from 2021. Net Profit attained stood at 17.12% or THB 327 million, representing a YoY increase of 11.60%. Along with the recovering economy came total dividend payout totaling THB 228.80 million or THB 0.26 per share. Return-on-Equity Ratio was concluded at 26.62% whereas Return-on-Asset ratio recorded 17.04%. Retained Earnings presented a healthy standing of THB 515 million, once again affirming KARMART as a preferred choice on the Stock Exchange of Thailand.
Last but not least, on behalf of the Board of Directors, I would like to express my sincere gratitude towards all stakeholders, with special emphasis on all staffs, for having stood by us and finally braved through the storms that presented major challenges in the past three years. The KARMART team is committed to charge forward with our all to replicate greater success in the year ahead and we invite you to witness our impending advancement towards the Company’s vision of becoming one of the leading branded beauty providers for everyone worldwide.