Sappe Public Company Limited or SAPPE has celebrated the golden year of its business with an outstanding performance in the third quarter of 2023. The company recorded Q3 with a revenue of 1,698.9 million baht, growing 25.2% and a net profit of 319.1 million baht, increased by 79.1%. These significant figures made SAPPE achieve new ALL TIME HIGH with a total revenue of 4,946.5 million baht and a net profit of 906.2 million baht in the first nine months of this year, creating a strong sales phenomenon domestically and internationally. The company has been continuing to implement the strategic promotion for its flagship refreshment brand ‘Mogu Mogu’ in leading universities abroad, TikTok application and many platforms to access the new generation worldwide. It also expanded its marketing initiatives in the domestic market by launching new products and campaigns to bolster strong growth.
SAPPE CEO, Ms. Piyajit Ruckariyapong, said the company made another significant performance in the third quarter of 2023 (July-September) with the net profit of 319.1 million baht, increased 79.1% from 178.1 million baht in the same period of last year. The total revenue of Q3 was 1698.9 million baht, up 25.2% from 1356.6% in 2022. The Q3 performance has pushed the net profit in the first nine months of 2023 to reach 906.2 million baht, increased 81.7% comparing to 498.8 million baht in the same period of last year. The total revenue in the first nine-month period was 4,946.5 million baht, increasing 29.1 % from 3,832.3 million baht in the same period of last year. The year 2023 is regarded as the golden year for SAPPE as it continues to achieve ALL Time High in both revenue and profit. The key factors to promote All Time High of revenue and profit came from surging growth domestically and internationally, especially the international sales of 3,975.3 million baht in the first nine months of this year, notably increased 44.6% from the same period of last year, and a proportion of international sales accounted for 82% of total sales.
To underscore SAPPE’s success in the global market, the European market demonstrated an exponential growth lately as the company has expanded its product base in modern trade channel as well as conducting activities at the universities in several countries with an aim to reach teen customers and the university students. The most popular products from SAPPE in the international market are fruit juice mixed with coconut jelly, Mogu Mogu, and fruit flavored drink with aloe vera pulps ‘Sappe Aloe Vera’ drink.
In South Korean market, Mogu Mogu still manages to retain its top rank in the fruit juice category. The company recently boosted the product through ‘TikTok’, a hugely popular social media platform, to enhance the image of Global Brand for SAPPE and to elevate this brand to become a widely discussed and sought-after product.
The Sappe CEO added that “We are confident that that the 2023 revenue would be able to achieve the growth target of 30-35%. This year is marked as the glory year of business performance in which Sappe has laid out a proactive strategy to bolster its growth in the international market. We will focus on brand building to align with the market competition and be able to constantly expand the distribution channels in the international markets, particularly in the retail stores (Modern Trade) with nationwide branches (National Chain). Additionally, the domestic sales volume has been growing continuously”.
“To fuel its competition in the functional drink market, SAPPE recently introduced a new product B’lue in lemon flavor in October and currently holding the big campaign of Sappe Beauti Power Stix, a powered drink mixed with 2000 mg collagen and vitamin C distributed in strawberry flavor. The ‘Beautiful Skin for All’ campaign was created with an objective that we want everyone to have equal rights to take care of themselves with quality products. We will continue inventing and developing new products to deliver innovative items to both domestic and global customers”, Ms. Piyajit said.