PQS adjusts strategy to maintain growth in 2024, new high of revenue exceedin...

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"Premier Quality Starch" adjusts aggressive strategy, reveals 2 new factories operating modified starch factories to produce high-value products, reveals 2024 new high revenue of 2,710 million baht, pushing net profit to grow 78%
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Mr. Ratthawirun rcs data romania Chanjungthaworn, Chief Executive Officer of Premier Quality Starch Public Company Limited ( PQS), a producer of cassava flour, revealed that the company's operating results for the year 2024 showed a revenue of 2,710 million baht, an increase of 14.8% when compared to the same period last year, which had a revenue of 2,325.4 million baht, resulting in a net profit of 241.1 million baht, an increase of 77.5% when compared to the same period last year, which had a net profit of 135.8 million baht.

This is mainly due to the increase in tapioca flour sales volume to a level that allows for good economies of scale. Although the average selling price per unit has decreased, the company has been able to effectively manage the average cost per unit, resulting in an increase in net profit margin to 8.8% from 5.7% in 2023.

In 2024, the Company utilized 72% of its seasonal cassava starch production capacity, up from 66% last year, as the overall fresh cassava root raw material this year was better than in 2023, both in terms of quantity and quality, resulting in more raw materials for the Company to use in the production of cassava starch. The Company's cassava starch export sales accounted for 74.9% of its cassava starch exports.

“The company has two new factory construction projects in 2024: a project to expand the current business base, which is the construction of a new tapioca starch factory in Kalasin Province, which will increase the company’s production capacity and increase its market share; and a project to expand into the downstream business, which is a modified tapioca starch factory in Mukdahan Province, to create added value from the current products and utilize the assets more efficiently.”