Central Retail Corporation and its subsidiaries reported a 5.6% increase in revenue and 5.3% growth in profit for Q2 ended June 30. The company’s total revenue was THB60,002mn (US$1.6bn) while net profit reached THB1690mn (US$47.4mn). Revenue from sales was THB53,521, up 4.5% year over year, largely driven by the fashion segment with a 14.1% growth. The business in Thailand continued to recover, as reflected in an 8% jump in sales.

The Italy business recorded a 20% increase in sales thanks to the reopening of the country, which has stimulated purchases among domestic consumers and tourists. Meanwhile, sales in Vietnam reduced 10% due to a sluggish macroeconomy where consumers were more cautious in spendings. As of June 30, the company has 3.4mn m² of net sales area and 0.7mn m² of net leasable area, up 3.4% and 6.9%, respectively. Reportedly the performance has continued to improve in Q2 thanks to a strong business model and adjusted operational strategies to be in line with changing business environment.