“MC Group” prove strong performance, Records 246-Million-Baht Profit in Q2/Fiscal Year 2023 Profit Jumps by 112% from Q1, Midyear Dividend at 0.45 Baht

“MC Group has continued to record a historic-high profit growth, with 246-million-baht profit earned in the second quarter of Fiscal Year 2023. The amount marks an increase of 112% from the previous quarter and an increase of 6.7% from the same period a year earlier. In Q2/2023, gross profit margin remained high at 65.2% while net profit margin stood at 22% thanks to Thailand’s economic recovery. After Thailand fully reopened to international visitors, tourism turns vibrant. Buoyed by active shopping, MC Group’s revenue in the first half of Fiscal Year 2023 reached 1,876 million baht. The company’s financial position is still super strong, with 2,110-million-baht cash in hand. Its board of directors thus approves the payment of midyear dividend at the rate of 0.45 baht per share.

Mr. James Richard Amatavivadhana, CEO of MC Group Public Company Limited or MC that retails fashion / lifestyle products under “Mc Jeans” brand, reveals that operating results from the second quarter of Fiscal Year 2023 (1 October 2022 – 31 December 2022) delivered the net profit of 246 million baht. The amount of net profit soared by 112% from the previous quarter and by 6.7% or from 231 million baht from the same period a year earlier. Moreover, MC Group successfully maintained gross profit margin at a high level or 65.2% – up from 64.6% in the first quarter. Its net profit margin also rose to 22% from 15% in the first quarter. 

With profitable operations throughout two consecutive quarters, MC Group earned the net profit of 362 million baht in the first half of Fiscal Year 2023 (1 July – 31 December 2022). The amount marked an increase of 42.3% from the same period a year earlier, which recorded just 254 million baht in net profit.

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Mr. James Richard says in Q2/2023, MC Group’s total sales revenue was 1,117 million baht – up by 47.2% or from 759 million baht in the first quarter and up by 12.2% or from 995 million baht in Q2/2022. In the first half of Fiscal Year 2023, MC Group’s total revenue was 1,876 million baht. The amount marked an increase of 30.9% from the same period a year earlier, which recorded the revenue of 1,433 million baht. MC Group’s revenue growth owed to rebounding economic activities. After Thailand’s reopening to international visitors, tourism has recovered. Retail oil prices have also dropped. Consumers’ confidence and purchasing power have thus soared. Consumer confidence index rose to 50.4 last December, up from 46.4 last September.

According to Mr. James Richard, consumers’ purchasing power apparently increased across offline channels. Freestanding shops accounted for 66% of MC Group’s total sales. Department stores accounted for 23%, E-Commerce for 8%, and other channels for the remaining 4%.


Free-standing shops’ revenue growth was significant in Q2/2023. Their revenue of 738 million baht in the quarter marked an increase of 21% or 129 million baht. In the first half of Fiscal Year 2023, their revenue reached 1,231 million baht or increased by 42% or by 364 million baht. Such growth was partially attributed to the strategy to expand MC-Outlet network. The number of MC outlets is expected to reach 100 by the end of March – exceeding the initial target of 80 for Fiscal Year 2023. The number soared from 72 at the end of Fiscal Year 2022. MC Group, moreover, has planned to expand MC-Outlet network further. 

“We have continued to implement our key strategy on cost control so as to improve expense efficiency too. With a continued emphasis on Product Mix, promotions, and distribution-channel management, our operating results have improved. They are even better than pre-COVID times. Our return on equity (ROE) has risen to 15.8 % from 13.4% in spite of risks such as Russia – Ukraine tension, soaring oil prices, and rising interest rates. MC Group, so far, has had no interest-bearing debts. Our cash flow has also continued to grow. As of the end of December 2022, MC Group had 2,110 million baht in cash or equivalents. It was up by 115 million baht from the end of Fiscal Year 2022,the CEO of MC Group adds. 

Mr. James Richard says backed by MC Group’s impressive performance and robust financial position, the board of directors has passed a resolution to pay 0.45-baht dividend per share from operating results achieved in the first six months of Fiscal Year 2023. The rate of dividends is nearly 100% of profit, much higher than the minimum rate of 40% based on MC Group’s policy.