Tanachira’s first-quarter net profit soars 21 per cent

(Source: Tanachira Group/Facebook)

Tanachira Group saw attributable net profit soared 21 per cent year over year to THB60.4 million (US$1.6 million) as revenue grew 30 per cent to THB 458 million in the first quarter.

The lifestyle and fashion products retailer attributed the financial improvement to strong sales growth at existing stores, the opening of new stores with high returns, and the company’s expansion into the food and beverage business.

Tanachira said that the Pandora and Marimekko brands for which it has licences, also contributed to profit growth.

Meanwhile, the company said Harnn is on track for export to China in the third quarter amid its continued growth.

Moreover, the company plans to open the first United Arrows store in June.

The company maintains its 20 per cent forecasted growth for revenue and profit for this year.

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