TOG's business has begun to recover, with the receipt of orders from key customers in the Americas, Asia, Australia, New Zealand and Europe. As a result, the overall business outlook for the first quarter of 2021 has improved, in comparison to the same period of the previous year. Consequently, this upward trend shows a more positive direction for expected sales this year.
TOG CEO, Torn Pracharktam, has announced the company’s financial results for the first quarter of 2021. The company's revenue from sales of goods and services totaled 582 million Baht, constituting an increase of 28% from the same period last year, with a net profit of 96 million Baht, representing a 152% increase from the same period of the previous year, from sales revenue increase and product cost decrease.
Overall business conditions in the first quarter of 2021 marked an improvement, compared to the same period of 2020. This is due to the receipt of more orders from key customers in the Americas, Asia, Australia, New Zealand and Europe, particularly from countries that are establishing immunity to the spread of COVID-19, due to their large-scale inoculation measures.
Regarding progress of the subsidiary TOG Europe (TOG EUROPE SP Z O.O.), which has tested the order management, delivery and warehouse systems, the plan to officially begin distribution in the second quarter is expected to bear fruit in the second half of this year. In further positive news, TOG USA (TOG USA Inc.) has continued to grow its business, and expects to be able to increase sales upon last year.
In addition, the company has adjusted its business strategy to enhance cost and expense management. Measures have again been bolstered to prevent the spread of COVID-19 and mitigate the risks that may arise, while awaiting vaccination. Although the economy has not yet recovered, the company sees a business opportunity for expansion of the eyeglass lens market in the Americas, Asia Pacific and Europe, where the demand for eyeglass lenses is on the increase. A new wave of outbreaks is driving more people to change their travel and home life activities and routines, in favor of spending more time on smartphones and computers, which can lead to eye problems. As a result of the prolonged use of digital devices and its effect on eyesight, such as eye fatigue, blurred vision, and so on, corrective lenses remain one of the solutions to these vision problems.