Dear Shareholders
In 2024, JCK Hospitality Public Company Limited has undergone a major internal organizational restructuring to adapt to the increasingly competitive market landscape thus affected businesses. Profits fail to meet the set targets, resulting in lower income in some business segments. Management has also been adjusted and changed to reduce costs effectively.
In 2024, Thai economy is showing a clear slowdown in line with the global economy, impacting various sectors such as production, investment and tourism sector. Today, the world is borderless, allowing for quick access to information and news. Hence, the Company must be adaptable and able to handle every situation, with an efficient risk management system that focuses on low-risk business operations, turning crises into opportunities for sustainable growth.
For the major restaurant business, even though the overall consumption situation in the country has been affected by the recovery of the tourism sector which has rebounded rapidly in line with the government support policies. The Company still needs to operate business cautiously to face the increasing challenges of rising raw material costs, along with acquiring customer groups in vulnerable countries. This is coupled with intense competition in the rapidly growing restaurant market. Causing the Company to change its continuous branch service management policy, the Company is considering adjusting the types of restaurant brands in branches that are unable to meet consumer market demands, including closing branches in service areas where the Company cannot control costs efficiently in order to reduce losses from business operations.
Nevertheless, the Company has also developed a business strategy that focuses on risk diversification by expanding its diverse business operations, including investment plans in other businesses that offer profit-making opportunities to the Company. This can help improve the Company's long-term operational efficiency.
On behalf of the Board of Directors, I would like to thank our shareholders, investors, customers, business partners, allies and supporters, as well as the executives, employees and stakeholders for their well contributions. The Board of Directors has diligently fulfilled their responsibilities, exerting their full capabilities to build trust with customers. Additionally, the Company is committed to ethical principles, governance best practices, and a comprehensive business approach in order to revive the Company's performance and ensure its strong growth. They also prioritize maximizing benefits for shareholders and always take good care of the Company's operations.