Thailand-based home improvement retailer Siam Global House Public Co. Ltd grew its net sales by 11 per cent in the first quarter of 2022 thanks to an overall boost in operations.
The company, which has business interests in six southeast Asian countries and China, posted consolidated net sales of 9.63 bn Thai baht (THB) (approx. 266.55 mio euros) in January to March 2022. The Thai operations made up the bulk of the take at THB 9.5 bn, as the company announced in a report.
“It was mainly driven by sales of same store growth and [the addition of] three new stores [during the comparative period],” Siam Global said.
Siam Global had 76 stores operating in Thailand as of March, including one opened in 2022.
The company, through subsidiary Global House International, also holds stakes in Indonesia's PT Caturkada Depo Bangunan Tbk, Laos' Souvanny Home Center Public Co., and Myanmar's Pro1 Global Co. Ltd. It also operates in Cambodia through its subsidiary Global House Cambodia Co. Ltd. In the Philippines, the company established Global House Philippines, Inc. and Global House Estate Co. Ltd., though these have yet to start operating. A unit in China, Guangxi Global House International Trade Co. Ltd., was set up last year to procure products for the group.
Jennee Grace U Rubrico / DIY International