OfficeMate reports sales growth in Q2

Originally written by Andy Braithwaite and published at opi.net

According to Opi, Leading Thai office products reseller OfficeMate reported sales growth of more than 8% in the second quarter of 2017.

The company – part of the COL group – reported Q2 sales of THB1.68 billion ($50 million), 8.1% up on the previous year as revenue growth from the online and call centre channels outpaced that of OfficeMate’s stores.

Combined, sales via call centres and online was THB807 million, up 8.4% year on year. With much of this increase driven by more orders coming through e-commerce and e-ordering platforms, online growth was almost 40%, although at around THB266 million it still only represented about 16% of total company sales for the quarter.

Retail sales were THB878 million, 7.8% higher than the second quarter in 2016, due to a combination of more stores and same-store sales growth of 3%. The company ended Q2 with 66 stores after opening two new outlets during the quarter.

OfficeMate said its best-performing categories were printing, paper and furniture, driven by higher sales of own brand products.

Meanwhile, Q2 sales at COL’s 101 B2S stationery, books and entertainment products stores were THB941 million, a 5.7% increase on the year before and a same-store increase of 1.6%. Growth was reported in the stationery, arts and crafts, foreign books and lifestyle product categories.

Overall, COL reported Q2 EBIT of THB144 million, up more than 65% year on year and largely driven by strong gross margin growth.