Corporate Profile
Business Unit
Investor Relations
Sustainability
Newsroom
Message from Chairman
Dear Shareholders,
The year 2024 presented a landscape of dynamic challenges, with each region demanding agile responses. Our Board and Management team navigated these hurdles diligently, ensuring operational continuity and mitigating potential disruptions. Detailed insights into our performance across all sectors are available in the 2024 Annual Report.
Under these circumstances, our various business sectors have adapted and responded to global economic changes. Notably, our TCM Surface business sustained robust growth, driven by enhancements in operational efficiency, the implementation of refined marketing strategies, the expansion of our customer base to include younger demographics and the introduction of products that effectively addressed market demands. This success enabled us to secure significant projects and maintain our established market leadership position.
For the TCM Automotive business, despite a general slowdown within the industry, we successfully maintained a satisfactory level of profitability and retained a solid market share.
The TCM Living business faced significant challenges due to multiple factors, including the economic recession in the United Kingdom, rising interest rates, elevated energy costs, a cost-of-living crisis that reduced consumer purchasing power, and persistent supply chain disruptions affecting the furniture industry broadly. Our company implemented various strategies to continuously mitigate these impacts, such as resizing the business to align with the contracting market. This restructuring necessitated adjustments in expenses, as reflected in our financial statements. Nevertheless, we remain one of the leading furniture businesses in the United Kingdom, committed to maintaining this leadership while preparing for a strong recovery when the economic landscape improves.
We are strategically positioned for future growth, with a keen focus on empowering the next generation. This includes adding a dynamic new member to our Board and cultivating diverse perspectives within our leadership team. These initiatives will enhance our adaptability and innovation in a rapidly evolving economic environment.
Our company remains steadfast in its commitment to meeting the expectations of our stakeholders by continuously improving our products and services. We leverage technology to enhance efficiency and elevate customer experience while conducting our business with a strong sense of social and environmental responsibility. We are dedicated to minimizing our environmental impact through responsible sourcing of materials and reducing resource consumption in our production processes while prioritizing the development of our personnel at all levels. While pursuing these initiatives requires dedication and resources, we firmly believe that our proactive approach to adapting to change and our focus on all stakeholders will provide a solid foundation for the long-term, stable, and sustainable growth of our company.
I would like to take this opportunity to thank all shareholders and stakeholders, including the Board of Directors, business partners, and customers, for their continued trust and support. I also extend my gratitude to our dedicated leadership and employees for their hard work and commitment. We look forward to your ongoing support in the years to come.
Under these circumstances, our various business sectors have adapted and responded to global economic changes. Notably, our TCM Surface business sustained robust growth, driven by enhancements in operational efficiency, the implementation of refined marketing strategies, the expansion of our customer base to include younger demographics and the introduction of products that effectively addressed market demands. This success enabled us to secure significant projects and maintain our established market leadership position.
For the TCM Automotive business, despite a general slowdown within the industry, we successfully maintained a satisfactory level of profitability and retained a solid market share.
The TCM Living business faced significant challenges due to multiple factors, including the economic recession in the United Kingdom, rising interest rates, elevated energy costs, a cost-of-living crisis that reduced consumer purchasing power, and persistent supply chain disruptions affecting the furniture industry broadly. Our company implemented various strategies to continuously mitigate these impacts, such as resizing the business to align with the contracting market. This restructuring necessitated adjustments in expenses, as reflected in our financial statements. Nevertheless, we remain one of the leading furniture businesses in the United Kingdom, committed to maintaining this leadership while preparing for a strong recovery when the economic landscape improves.
We are strategically positioned for future growth, with a keen focus on empowering the next generation. This includes adding a dynamic new member to our Board and cultivating diverse perspectives within our leadership team. These initiatives will enhance our adaptability and innovation in a rapidly evolving economic environment.
Our company remains steadfast in its commitment to meeting the expectations of our stakeholders by continuously improving our products and services. We leverage technology to enhance efficiency and elevate customer experience while conducting our business with a strong sense of social and environmental responsibility. We are dedicated to minimizing our environmental impact through responsible sourcing of materials and reducing resource consumption in our production processes while prioritizing the development of our personnel at all levels. While pursuing these initiatives requires dedication and resources, we firmly believe that our proactive approach to adapting to change and our focus on all stakeholders will provide a solid foundation for the long-term, stable, and sustainable growth of our company.
I would like to take this opportunity to thank all shareholders and stakeholders, including the Board of Directors, business partners, and customers, for their continued trust and support. I also extend my gratitude to our dedicated leadership and employees for their hard work and commitment. We look forward to your ongoing support in the years to come.
Pimol Srivikorn
Chairman