On May 17, 65, the company Kerry Express (Thailand) Public Company Limited or KEX has reported the results of the quarter 1/62 to Stock Exchange of Thailand It states that the company has total revenue of 4,416 million baht, an increase of 5.5% compared to the first quarter of 161 and a net loss of 491 million baht compared to the 1st quarter with a net profit of 302.79 million. A 18.7% improvement at a net loss of 604.34 million baht.
While the overall market still faces higher production costs from high oil prices. The inflation rate continued to rise. The situation in the labor sector is tight. and a slight increase in the recovery of the Thai economy. As a result, cost of sales and services continued to decline to 4.6 billion baht, a 10% drop from the previous quarter.
Alex Ng, Chief Executive Officer of KEX, said that amid the fierce price competition in the industry, and the current economic situation where other players earn lower income. KEX has now adopted the Smart Pricing model after its highly successful implementation of an aggressive pricing strategy. From the trend of increasing the initial delivery price of parcels in the market in the past quarter.
We expect intense competition in the market to ease. And in the medium term, it will begin to see the integration of industry players with new standards and cost-effective services. This makes it harder for new players to enter the market. This vision is consistent with the company’s business plans and preparations for future sustainability.
“We remain committed to the express delivery business. which is the heart of the operation and strives to further strengthen its leadership in the Thai express delivery market.”
KEX maintains an excellent financial position. without using a loan Ready to increase the capacity to support the delivery of 3 million parcels per day in preparation for the coming high season, the company continues to provide reserve resources to maintain service excellence in This time of uncertainty and to prevent interruption of operations
In line with KEX’s commitment to internal workflow transformation and the upgrading of KEX’s unique parcel delivery platform, the company continues to make the most of its resources to seek cost-cutting opportunities. and provide adequate resources
In addition, through the adoption of the reseller model through 4PL (fourth-party logistics) representative alliances, it has been very successful in building awareness among low-cost shipping customers. And resulting in more than 31,000 service points across Thailand to meet the growing market demand.
In addition, in order to create long-term competitiveness and create sustainable growth, the Company continues to operate various projects. as planned including strengthening the army with flagship projects that will help the company It can also offer parcel delivery services with a new experience and more penetration into the C2C market. Businesses that reinforce the company’s diversification strategy this year include KERRY COOL, KERRY XL, KERRY WALLET and other businesses. pending which is expected to be fully operational within this year
in the past year After the acquisition of shares of Kerry Logistics Network Ltd. by SF Holding Co., Ltd., KEX is in the process of preparing for full operation. and in the future the company The number of cross-border trade transactions between Thailand and China is expected to increase. in line with the company’s long-term vision To increase the coverage of business abroad as well
