TOG CEO, Torn Pracharktam, has announced the company’s financial results for the first quarter of 2022. The company's revenue from sales of goods and services totaled 650 million Baht, constituting an increase of 12% from the same period last year, with a net profit of 76 million Baht, representing a 21% decrease from the same period of the previous year, from an increase in cost of goods and selling and administrative expenses.
The Russo-Ukrainian War has affected the global economy, with rising energy costs, inflation issues and supply chain disruptions. The quieter trading climate in Europe and rising raw material costs, from continued increase in oil prices, have had some degree of impact on TOG business.
At the beginning of the year, TOG received more lens orders from customers who were unable to order from China. With the recent spike in Covid-19 infections there, factories have been temporarily shut down, leading to a shortage of certain types of products, including optical lenses. Furthermore, shipping restrictions in some areas have been directly affecting the supply chain.
Meanwhile, TOG still continues to expand into new customer markets, in all regions, focusing on providing a range of prescription and value-added lenses.