Central Retail Corporation Plc (CRC) has posted record revenue of more than 262 billion baht for 2024, a 6% year-on-year increase.
Its core profit rose by 9% year-on-year to 8.87 billion baht.
Yol Phokasub, chief executive of CRC, credited this achievement to the strength and flexibility of the CRC OMNI-Intelligence strategy, which enables the company to swiftly adapt to market changes in Thailand, Vietnam and Italy.
In the fourth quarter of 2024, CRC reported revenue of 69.2 billion baht, with core profit surging to 2.97 billion baht.
The company has proposed an annual dividend payment of 0.60 baht per share to shareholders.
Mr Yol said that despite facing various challenges in the retail, wholesale and service industries last year, CRC maintained strong growth through a strategic focus on store expansion and renovations.
Key highlights included the transformation of Central Chidlom into “The Store of Bangkok”, which sparked the "Chidlom Pink" trend, leading to a post-launch sales increase of more than 60%.
Tops expanded with nine new branches, while GO Wholesale grew rapidly by opening 10 branches within the year.
Thai Watsadu strengthened its presence with seven new branches and renovations of four existing stores, bringing the total to 86 branches nationwide.
Robinson Lifestyle introduced a new “Strip Mall” model, enhancing shopping convenience and supporting small firms.
In Vietnam, continuous expansion efforts resulted in GO! Mall reaching a total of 42 branches, GO! Hypermarket expanded to 41 branches, and Mini go! grew to 14 branches by the end of 2024.
Additionally, the company catered to Vietnamese lifestyle consumers by launching FitFlop, Crocs and Dyson.
Moreover, Rinascente was transformed into a media company, while Odeon Hall was expanded to become Italy’s largest beauty hall.
Mr Yol said the company will invest over 19 billion baht this year to drive the core business to achieve sustainable growth by expanding and renovating key operations while venturing into new markets to satisfy modern consumer demands.
This year, CRC plans to open four additional branches of GO Wholesale, targeting a total of 14 branches in Thailand by year-end.
Moreover, it is accelerating growth in Vietnam by expanding its Mall & Food network nationwide, reinforcing its position as Vietnam’s leading international retailer.
Additionally, the company is empowering employee excellence through its HAI (Human Intelligence + Artificial Intelligence) strategy, optimising efficiency and accelerating operations.
The omnichannel ecosystem has been developed to create a seamless online and offline shopping experience for customers.
The company also has plans to enhance financial management for maximum efficiency.
This will support ongoing business expansion and accelerate the adoption of digital technology, responding to the rapidly changing behaviour of consumers to secure long-term growth and competitiveness.
