CRC profits decline as consumers tighten belts

Central Retail Corporation Plc (CRC) reported higher revenue in the first half of the year, but core net profit fell amid slowing purchasing power.

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CRC recorded total revenue of 132 billion baht in the first half, up 1% year-on-year, while core net profit was 3.81 billion baht, down 8%.

In the second quarter, the company generated revenue of 62.6 billion baht, a 1% decrease, and posted a core net profit of 1.35 billion baht, a 16% drop.

Panet Mahankanurak, chief financial officer at CRC, said amid ongoing economic volatility and uncertainties both domestically and internationally, consumers are cautious about spending, resulting in a slowdown in purchasing power and affecting several industries.

In the second quarter, Central Chidlom reported steady growth.

The “Central Chidlom Luxe Night Out” celebrated its newly renovated fashion zone that features a diverse range of brands to suit several generations.