New stores support Siam Global House’s sales rise

Siam Global House, a Thai home improvement retailer that also has interests in other Southeast Asian countries, saw a 6.32 per cent rise in sales for the third quarter, supported by the operations of three new stores.

The company disclosed that it posted 8.17 bn Thai baht (THB, EUR 216.5 mio) in consolidated sales for the period. Its operations in Thailand contributed the most at THB 7.98 bn, while the Cambodian subsidiary accounted for the rest. Its Myanmar business did not have any substantial contribution.

Its third quarter showing lagged its performance in the second quarter, when consolidated net sales hit THB 9.219 bn. For the period of January to September, the company’s consolidated sales stood at THB 27.023 bn, up 7.02 per cent. Thailand made up THB 26.49 bn, and Cambodia made up the rest.

The company closed the third quarter with 77 stores. In Thailand, Siam Global House operates 76 eponymous stores while in Cambodia, it has one store called Global House Cambodia. The company, through its joint venture with Siam Cement Group, owns stakes in Pro1 Global Centre in Myanmar, Souvanny in Laos, and PT. Caturkarda Depo Bangunan in Indonesia. The company also owns a logistics firm in China and has partnered with Philippine conglomerate Cosco Capital Inc to pursue plans of setting up a home improvement retailing company in the archipelago.