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Modest downturn in HomePro sales in third quarter

The Thai home improvement group HomePro has reported a decline in sales revenues and service income of 1.75 per cent for the third quarter. Revenue from contracts with customers, according to the quarterly report, came to THB 15.0643 bn (EUR 412 mio). The company cites weaker consumer purchasing power and thus a decline in same-store sales growth of the 84 HomePro stores and nine HomePro S stores as the reason.

Total sales of the 14 Mega Home stores increased due to the new stores that were opened last year, while same-store sales were marginally negative. For the HomePro business in Malaysia (six stores), sales rose after the resumption of business due to both financial support from the Malaysian government to the end users and pent-up demand.

Calculated for the first three quarters of 2020, sales were down on account of the coronavirus crisis. Compared with the same period in the previous year, sales declined by 8.3 per cent to THB 43.4341 bn (EUR 1.187 bn). In Thailand, the stores were closed from 22 March to 17 May, and in Malaysia from 18 March to 4 May.

| 2 November 2020 | 14:30


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