TOG CEO, Torn Pracharktam, has announced the company’s financial results for the third quarter of 2022. The company's revenue from sales of goods and services totaled 758 million Baht, constituting an increase of 37% from the same period last year, with a net profit of 116 million Baht, representing a 127% increase, as the world economy continues to recover, post-pandemic.
Should the global economy continue this trajectory in all regions, sales in the last quarter of the year are expected to trend upwards, in line with the sales season, across all sales and distribution channels, increasing business opportunities for further continuous growth.
The cost of raw materials, labor and transportation have steadily risen, due to economic and political factors: such as central banks around the world increasing interest rates, to cope with inflation; the energy cost crisis in Europe; the unrelenting Russo-Ukrainian War; and geopolitical conflicts in different regions.
To counteract the ramifications of these factors, the company is managing all aspects of production efficiency and continually implementing improvements, and maintaining competitiveness, to reduce the impact of higher production costs, while consumer purchasing power is still low.
Expansion of the production line of Rx prescription lenses, at Thai Optical Company Limited (TOG's Subsidiary), is progressing as planned, with increased production capacity expected to run during the 3rd quarter of 2023.