SABINA revealed its first half (January to June) 2024 performance with sales revenue of 1.79 billion baht, an increase of 90.8 million baht or 5.3% from the same period last year.
Net profit reached 240.7 million baht, up 4.6%, with a net profit margin of 13.3%. The board approved an interim dividend of 0.69 baht per share, to be paid on September 10, 2024.
The company attributes the growth in the first half to the expansion of the NSR channel, which grew by 31.9%, while retail channel sales grew by 1.7%, and OEM channel sales decreased by 48.7%.
company plans to continue its marketing efforts in the second half of the year. The company is confident in achieving its full-year growth target of 5-10%.
Duangdao Mahanavanont, the CEO of SABINA Public Company Limited or SABINA, a manufacturer and distributor of “SABINA” lingerie products revealed that the company’s performance in the first half of 2024 was in line with its projections. Sales revenue grew by 5.3% compared to the same period last year, and net profit increased by 4.6%.
The net profit margin, which reflects the company’s profitability, stood at 13.3%. This is a result of SABINA’s ongoing efficient cost control measures, especially in the face of high economic uncertainty both domestically and internationally, allowing the company to maintain its profitability well.
Plans interim dividend of 0.69 baht per share
In the board meeting on August 13, 2024, the company’s board of directors approved an interim dividend payment for the 6-month operating results of 2024 at 0.69 baht per share. The record date for shareholders entitled to receive the dividend is set for August 27, 2024, with the dividend payment scheduled for September 10, 2024.
The key factor supporting the performance in the first half of the year came from the expansion of the Non-Store Retailing (NSR) channel, which grew by 31.9% compared to last year. Meanwhile, the Retail channel maintained a growth of 1.7%, while the Original Equipment Manufacturer (OEM) channel declined by 48.7%, following global market trends.
“We are satisfied with SABINA’s growth in both revenue and net profit, amidst economic uncertainties and various challenging factors. Our task has become more difficult, but we have still managed to perform well and pass the test. This is largely due to our assessment of the overall market and adjusting our approach and marketing strategies to align with the environment.,” said Ms Duangdao.
In the first half of the year, marketing efforts included the launch of the “Open Up to Comfort” advertising campaign for “Sabina Braless”, a collaboration with the “Janesuda” brand to create products beyond lingerie, the introduction of the “From Marine to Fashion” collection – an eco-friendly fashion line made from recycled fishing nets (a first in the industry), and the launch of a new children’s underwear collection “Sabina Kids” in collaboration with the globally popular cartoon character “Care Bears” for the second season.
All these collections were well-received by target customers. Additionally, SABINA’s investment in the Philippines market has yielded satisfactory returns. All these factors clearly supported the company’s performance in the first half of this year.
Expects continued market expansion in H2
For the second half of 2024, after SABINA launched the “Forever Young” collection featuring the veteran actress “Ann Thongprasom” as the presenter, along with a new advertising film and online media promotions, the response has been continuously positive. SABINA plans to release new product collections and continue marketing campaigns, especially during the high season of the year. This makes the company confident that their growth target of 5-10% will certainly be achievable.
Related News : RATCH Group announces a 3.82 billion baht net profit in the first half of 2024
