TOG is targeting a sales growth of 5-8% in 2023, by accelerating customer base expansion in all regions, particularly in North and South America, and the Middle East, via TOG USA and TOG EUROPE distribution centers.
TOG CEO, Torn Pracharktam, has announced the company’s financial results for the third quarter of 2023. The company's revenue, from sales of goods and services, totaled 2,980 million Baht, constituting an increase of 21% from the same period last year, with a net profit of 404 million Baht, representing a 30% increase, which was rationalized by the global economic recovery due to the COVID-19 epidemic situation.
In 2023, the company expects a growth in sales of 5-8%, compared to the previous year, from the expansion of new customer bases in all regions, particularly in the Americas, Canada and the Middle East, which are seeing continuous growth, via TOG USA and TOG EUROPE distribution centers, subject to economic and other various factors which may arise, in the future.
In countries with eye health insurance, it is expected that lens-buying behavior may shift from value-added lenses to more standard lenses, due to the impact of the economic crisis and geopolitical conflict.
China's lockdown relaxation policy has, thus far, not had an effect on TOG business. Due to the need for business partners to manage risks in the lens supply chain, the company continued to receive orders for lenses from end 2022 into the first quarter of 2023.