Bangkok – SCG Packaging Public Company Limited (SCGP), reported a 3% year-on-year increase in revenue for the first half of 2024, reaching 68,182 million baht. This growth was driven by the recovery of domestic economic activity, export markets, and increased demand for premium products due to improving consumer purchasing power.
- – It has begun!!! CAF 2024 Makes Waves in Thai Cosplay Scene
- – True Business, Google, and Street Smart Join Forces to Elevate Google Workspace
In Q2 2024, SCGP’s revenue reached 34,234 million baht, a 6% increase year-on-year and a 1% increase quarter-on-quarter. This performance was attributed to strong domestic demand, improved exports, and the demand for premium products aligning with the recovery of consumer purchasing power.
Net profit for H1 2024 reached 3,178 million baht, a 17% year-on-year increase. This growth was due to increased sales volume, price adjustments, and higher utilization rates across all core products, coupled with effective cost management.
The first-half performance reflects SCGP’s adaptability and growth amidst economic challenges. The company remains committed to sustainable business development, focusing on investments in high-growth potential businesses, such as healthcare packaging and related businesses, to meet evolving consumer needs.
SCGP also emphasizes sustainable development, obtaining carbon footprint certifications for various products manufactured in Thailand and receiving the Gold medal from EcoVadis Sustainability Ratings, reflecting its commitment to ESG principles in business operations.
SCGP declared an interim dividend of 0.25 baht per share from the H1 2024 performance, totaling 1,073 million baht,scheduled for payment on August 21, 2024.
SCGP continues to invest and expand its business, targeting quality growth and focusing on supply chain integration, production efficiency enhancement, and expansion into high-potential markets.
Business Growth
SCGP experienced strong growth in H1 2024, with a 3% year-on-year increase in sales revenue. This growth resulted from increased sales volume across all core business segments, particularly in Integrated Packaging Business and Fibrous Business.
The Integrated Packaging Business reported a 3% year-on-year revenue growth due to increased sales volume across all product categories, especially in polymer and fiber packaging. The Fibrous Business saw a 5% year-on-year revenue growth, driven by increased sales volume in dissolving pulp and foodservice packaging products.
SCGP continues to expand its business by focusing on investments in high-growth potential businesses, such as healthcare packaging and related businesses, to cater to changing consumer needs. The company is committed to expanding into high-potential markets, particularly in the ASEAN region, which is experiencing rapid economic growth.
SCGP remains committed to sustainable development, obtaining carbon footprint certifications for various products manufactured in Thailand and receiving the Gold medal from EcoVadis Sustainability Ratings, demonstrating its dedication to ESG principles in business operations.
#SCGP #FinancialResults #Packaging #Investment #Dividend #Sustainability #ESG
