Bangkok--23 Feb--MC GROUP
MC GROUP’s (“MC”) full-year 2014 revenues were up 17% to THB 3,470 mn, and 4Q14 revenues increased 5% YOY to THB 1,047 mn, attributable to points of sales expansion efforts as well as the revenue realization from Time Deco Corporation. However, its full year and 4Q14 net profit was THB 712 mn down 3% and THB 195 mn down 7% respectively. Excluding an extraordinary expense of THB 20 mn, net profits before extraordinary item would report THB 728 for FY 2014 and THB 211 for 4Q14. Meanwhile, the company’s Board of Directors has approved dividend payment of THB 0.4 per share equivalent to THB 320 mn.
Ms. Sunee Seripanu, Chief Executive Officer said “2014 was challenging year for MC GROUP from the slowdown in domestic consumption since the beginning of the year. Revenue growth for this year is driven mainly by the consolidation Time Deco Co.,Ltd. which we acquired 51% ownership in November 2013 and our ongoing efforts to strengthen our footprints. In 2014, the company added 125 new points of sales, bringing it to a total of 819 points of sales.
Regardless of numerous obstacles and negative factors that inevitably affected our performance, we remain confident in the potential growth in the retail sector and the business opportunities for MC GROUP itself. Moving in to 2015 – in addition to sales network expansion and product portfolio enhancement, we will also emphasize on improving the merchandising aspect including selecting and distributing products to better respond to customers’ demand in each area. The on-going ERP implementation will be one of the main drivers bringing us to more efficient and effective merchandising. The first phase of the project focuses on warehouse management system and is expected to be completed in the 1Q15.
2015 marks the 40th anniversary since our first pair of jeans was introduced and through numerous events, campaigns and advertisement planned for this year will allow us to share our stories since inception, challenges, successes and the future. Apart from that, realizing the boundless potential for the future of e-commerce, we aim to expand our online presence in the second half of this year.”
The ex-dividend date (XD) will be on April 30, 2015 and the record date determining the rights of shareholders to receive dividend payment will be on May 7, 2015. The name list of shareholders will be determined on May 8, 2015 and the dividend will be payable on May 21, 2015.