To All Shareholders
2022 marks the third year in which the world economy, including Thailand, has been affected by the Coronavirus Disease 2019 (Covid-19) pandemic. The business operations and people’s way of life have managed to adjust better as time goes by. However, during the first half of the year, the overall export continued to be affected by a shortage of liners and high freight rates, due to the preventive measures in several countries exposed to high potential infections, coupled with the prolonged conflict between Russia and Ukraine, and the economic slowdown, particularly in Europe, which also affected the volume and costs of goods, especially agriculture products, energy costs, etc.
Tipco Foods Public Company Limited has regularly adjusted its strategies to accommodate such changes, and as such, generated total sales revenue over Baht 2,895 million, representing a growth of 19 percent as compared to that of the previous year. However, given the above impact on production costs, including the addition of the sales team structure, in 2022, the Company has earned a net profit of Baht 280 million, representing a decrease by 35 percent as compared to that of the previous year, from the following two core business groups:
2023 will continue to be a challenging year for Tipco Foods Group for sustainable growth under the economic circumstances which have a tendency to slow down. Tipco Foods Group will continue to focus on development of products in response to the healthy trend, management of product costs and efficient delivery, including management of potential risks of business operations, to bring about business opportunities under the concept “TIPCO develops business along with environment and society.”
On behalf of the Board of Directors, I would like to thank the shareholders, customers, trading partners and business alliances for the continued support to Tipco Group, including all executives and staff for their full dedication and hard work all these years.
Tipco Foods Public Company Limited
118/1 TIPCO Tower 1 Floor 27-28, Rama VI Road,
Phaya Thai, Phaya Thai, Bangkok 10400
Tel: (662) 273-6200
Fax: (662) 271-4304, 271-1600