Sappe Public Company Limited, or SAPPE, again made an outstanding performance in the third quarter of 2022 with total revenue of 1,356.6 million baht, increasing by 25.2%, and had a net profit of 178.1 million baht, rising by 25.5%. SAPPE made all-time-high growth in three consecutive quarters as the total revenue of the first nine months of 2022 was 3,832.3 million baht and the net profit was 498.8 million. The company is confident that the revenue this year will grow by 30-35%. SAPPE also plans to speed up its foreign market with France a new destination for Mogu Mogu drink.
SAPPE Chief Executive Officer, Ms. Piyajit Ruckariyapong, said the third quarter’s net profit was 178.1 million baht, increasing by 25.5% compared to 142.0 million baht in the same period last year. The total revenue was 1,356.6 million baht, growing by 25.2% compared to 1,083.9 million baht in the same period in the previous year. This means SAPPE made all-time-high revenue and net profit for three consecutive quarters. The net profit in the first nine months of this year reached 498.8 million baht, rising by 40.3%, compared to 355.4 million baht in the previous year. The total revenue of the first nine months of this year was 3,832.3 million baht, increasing by 36.0% compared to 2,816.9 million baht in the same period last year.
The key factor for the growth in the third quarter mainly came from the foreign market. The market in Europe grew by 134.1%, especially when the company was able to distribute products in European countries through both modern trade and traditional trade channels. This began in France as a pilot market to create and expand brand awareness to other countries in Europe in the following years. Meanwhile, sales volume in the Middle East and Asia are still on the rise, growing by 51.5% and 38.5% respectively.
“The continuity of surging sales was a result of strong marketing and brand building as the overseas sales accounted for 78% of the revenue. The company has received orders until the end of the first quarter of 2023 although Europe is facing high inflation and economic recession”, Ms. Piyajit said.
In addition, SAPPE has been using mixed marketing strategies both online and offline to create visibility and get new consumer groups. Recently, the company has resorted to “Global Influencer Marketing” by using famous people like the boyband BTS in promoting Mogu Mogu, fruit juice mixed with coconut jelly, which is SAPPE’s signature brand through the variety show RUN BTS which has a huge number of fans. The company expects this marketing campaign will reaffirm the image of Mogu Mogu as a global brand. This is expected to help increase the sales volume in countries in Asia and Europe.
The SAPPE CEO added that the company is confident that the revenue this year will grow between 30-35%, from the initial projection of 20%, compared to the previous year at 3,444.1 million baht. The company has set a strategy to make the products grow in foreign countries with the focus on creating the brand in accordance with competition and consumers’ needs in the world market along with creating brand loyalty to win consumers’ hearts and for them to buy the products repeatedly.
