PLUS expands into 3 new countries, targeting coverage of 123 countries
Royal Plus Public Company Limited (PLUS) announced the expansion of its business into 3 new countries, namely Poland, the Cayman Islands, and Ghana, in the third quarter of 2026, building on the success of the second quarter when it entered the markets of Spain, Turkey, Oman, and the Maldives. This brings its customer base to cover 123 countries worldwide. The company is preparing to participate in SIAL PARIS between October 17-21, 2026, to further penetrate the European market, and will launch new products including Coco Matcha and Fruit Tea, as well as expand distribution channels for its 100% coconut water brand, Coco Royal, in leading supermarkets such as Villa Market, Lotus's, and Tops Market. Mr. Polsang Sae-Bae, Managing Director, anticipates that third-quarter performance will improve due to the high season for the beverage business, and the company continues to adhere to its ESG framework for sustainable growth.
PLUS reports second-quarter revenue up 33%, pushes into overseas markets
Royal Plus Public Company Limited, or PLUS, reported total revenue for the second quarter of fiscal 2026 at 362.3 million baht, up 33.0% from the previous quarter, driven mainly by a seasonal recovery in North American sales. At the same time, the company gained two new customers in the European market, starting with coconut water products, one of its core offerings. Europe accounts for about 5 to 7% of total overseas sales, while domestic sales currently make up about 1% of total revenue. For the second half of the year, the company plans to launch new products under the Flavor Coconut Series and Fruit Tea groups, and to expand distribution channels for its 100% coconut water beverage under the COCO ROYAL brand in Lotus's, Tops Market, and Villa Market. In addition, sales in several regions grew significantly compared with the same period last year, with Oceania up 330%, Africa up 157.9%, and Latin America and the Caribbean up 110.5%.
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PLUS lands two new European clients, coconut water orders surge, weak baht supports margins
Royal Plus Public Company Limited, or PLUS, has secured two new major European clients under original design manufacturing agreements for coconut water products. This will help increase the revenue share from the European market, which previously accounted for only 5 to 7 percent of total overseas sales, and is expected to start contributing positively to earnings from August 2026 onward. Managing Director Phon Saeng Saebe disclosed that the outlook for the second half of 2026 remains positive despite geopolitical volatility. The China market is moderately stable, while the US market has not been significantly affected by the Section 301 tariff increase from 10 percent to 12.5 percent, which is still below the previous level of 19 percent. In the Middle East, although first-half growth was strong, transport risks from the Red Sea situation still need to be monitored. The company is therefore pushing ahead with diversifying into more stable countries, along with developing new products. It is also benefiting from a weaker baht and lower raw material costs, which support profit margins, given that export revenue accounts for over 99 percent of total revenue. Currently, 93.5 percent of revenue comes from coconut water beverages and fruit-flavored drinks with basil seeds.
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Asia Plus says new US tariff measures to pressure Thai exports in second half
Asia Plus Securities' research unit says new US tariff measures under Section 301, one of the risks to Thai exports in the second half of the year, will slow exports because Thailand faces a 12.5% levy, higher than some ASEAN peers like the Philippines and Malaysia, potentially reducing competitiveness. Thailand also runs a growing surplus with the US, and markets must watch for surplus-production tariffs the US has yet to announce, which will pressure the Thai economy's export sector. Product groups hit by the 12.5% tariff include pet food, processed food, and beverages, covering stocks such as AAI, ITC, PLUS, TU, and COCOCO, as well as electronics, including HANA, DELTA, KCE, and CCET. Major Thai goods exempted from the 12.5% tariff are oil, gas, and fertiliser, which the US imports heavily, easing pressure on refinery and oil stocks like PTT, PTTEP, TOP, IRPC, and BCP, and goods already under Section 232, such as automobiles, steel, aluminium, and copper, which eases pressure on processed steel and steel pipe stocks like PAP, TMT, and SAM, and auto parts stocks like AH and SAT. The Commerce Ministry reported that Thai exports in June 2026 grew 20.8% year-on-year, above the market forecast of 15.2%, while imports rose 50.3%, above the 35.8% forecast, resulting in a trade deficit of 6.565 billion US dollars. Standout products included pet food, up 22.3%, expanding for a tenth straight month; rubber, up 12.5%, returning to growth for the first time in 14 months; and processed chicken, up 6.1%, expanding for a seventh consecutive month.
Thailand