Thai retail giant Central Retail Corporation has recorded a 21 per cent increase in sales for last year, generating THB236 billion (US$6.7 billion) in revenue.
The group’s net profit reached $219 million, up 2.6 per cent year on year.
Sales in its home country increased by 16 per cent and omnichannel sales for the year increased by 12 per cent compared to the year before, representing 23 per cent of the total sales in Thailand.
Meanwhile, its Vietnam business, which has grown to account for 24 per cent of total sales, recorded 34 per cent growth in turnover. Omnichannel sales in the country rose by 40 per cent year on year. Last week, the group announced an investment of $1.45 billion in Vietnam within the next five years, its largest investment yet into the country.
“Overall, Vietnam was the country showcasing the most robust economic growth and expansion among other countries in Asia,” the company said in a statement. “This was supported by the industrial sector and the recovery of the service sector.”
The group also posted double-digit sales growth in Italy. Omnichannel sales, accounting for 5 per cent of total sales in the country, surged 48 per cent.
Central Retail Corporation reported $1.8 billion in sales during the fourth quarter of the year with net profit increasing 38.7 per cent to US$98 million. The company said the strong growth was driven by the recovery of tourism and the expansion of its retail footprint.
