Zen Corporation Group Public Company Limited announced its financial results for the first quarter of 2023, reporting total revenue of 913 million baht, an increase of 32% compared to the same period last year. The company's net profit across all subsidiaries reached 38 million baht, a remarkable increase of 374% from the previous year. The restaurant business, being the largest segment of the company, continues to lead in growth, followed closely by the retail sector.

Ms. Yupaporn Aeksitthikul, Executive Director and Deputy Chief Financial Officer of Zen Corporation Group Public Company Limited, stated, “The overall performance of the company in the first quarter of 2023 aligns with the ongoing recovery of the Thai economy, particularly in the tourism and service sectors, which have fully reopened. This has led to an increase in consumer spending by tourists. Additionally, the company's business strategy focuses on growing same-store sales while expanding its franchise business both domestically and internationally, as well as fostering growth in the commercial retail sector. This has resulted in total revenue of 913 million baht, a 32% increase compared to the same period last year.”

The company saw a 41% increase in revenue from its food business, driven by consumer behavior shifting towards dining out more frequently, along with the opening of new branches during the third and fourth quarters of 2022, which contributed to higher revenue growth compared to the same period last year. Furthermore, revenue from the retail business grew by 58% year-on-year, largely due to the income from King Marine Foods Co., Ltd., in which the company acquired a 51% stake in March 2022, allowing full quarterly revenue recognition in 2023. In the first quarter of 2023, the company opened over 5 new branches, including 2 company-owned branches and 3 franchise branches. “Moreover, the company continues to prioritize marketing strategies that align with consumer behavior, effectively communicating with target audiences for each brand in the group, while accelerating efforts to meet sales targets from the start of the year. We anticipate continued growth in Q2 2023,” Ms. Yupaporn concluded.