Central Retail Corporation and its subsidiaries reported a 5.6 per cent increase in revenue and 5.3 per cent growth in profit for the second quarter ended June 30.

The company’s total revenue was THB60,002 million (US$1.6 billion) while net profit reached THB1690 million (US$47.4 million).

Revenue from sales was THB53,521, up 4.5 per cent year over year, largely driven by the fashion segment with a 14.1 per cent growth.

The business in Thailand continued to recover, as reflected in an 8 per cent jump in sales. The Italy business recorded a 20 per cent increase in sales thanks to the reopening of the country, which has stimulated purchases among domestic consumers and tourists.

Meanwhile, sales in Vietnam reduced 10 per cent due to a sluggish macroeconomy where consumers were more cautious in spendings.

As of June 30, the company has 3.4 million sqm of net sales area and 0.7 million sqm of net leasable area, up 3.4 per cent and 6.9 per cent, respectively.

The company says its performance has continued to improve in the second quarter thanks to a strong business model and adjusted operational strategies to be in line with changing business environment.

Several headwinds still persisted, such as rising electricity expenses and higher finance costs and operating expenses for store expansion.