Good morning, Crab. Performance will be January to March 2025, which is our Q3 on the, our fiscal year 2025 also. MC. Good. James.
Yep. I'm James. I'm the CEO, so good morning to you all.
Yes. Both of us will be the represent, of the company to show all the agenda that we prepare on today. Okay. We prepare three agendas, and, I will go on the company background and also the performance. On the last agenda, I'll let James handle all the business updates when, we prepare for the investor. For the MC Group, we listed since, 2013. This year will be, our 12th year for the, listed in the SET. For the business-wise, we already, coming to, celebrate our 50 years. We start from the denims, but right now we, transform the company to offer, on the lifestyle and head-to-toe. As you will see from the presentation right now on the denim product, we diversify to be only 35%.
The rest will be a non-denim, which is also include all the accessories, like shoes and bag, and also all the outerwear, T-shirt, belt, cap. For the total supply chain for the company, we have a very long and fully integrated supply chain. We have the in-house, design. We have our own designer. We have the factory, which we produce on the denim and also the T-shirt, which account around two-thirds of our com, our sales. We also have a very strong relationship with our suppliers, both on the fabric and also on the outsource. We have our own warehouse management system. Also, we have our MFC, MC Fulfillment Center, to deliver and manage our operation both online and offline for the sales. We also have the in-house and outsource logistics.
Right now, we have point of sale around 600, and also we have a very quite active customer engagement. Right now, our company and on the sales, we also moving to be more on the online, which I will explain more later. Right now, our sales on the online grow quite significant in this quarter. We grow double on the online. On the complete value chain, we can keep our margin, and also we have a lot of business flexibility to adapt on the current situation. We just announced last on the December, we get the SET ESG rating on the triple A. We improved from double A on last year on 2023. On the next agenda, we'll be on the financial update. This quarter, we have the sales. We increase, we grow around 7.3%.
The sales are around THB 1,067 million. For the nine month, we grow around 2%, which, we gradually improve from the Q1 that we go on the negative. In Q2, we gradually increase on the sales. For the end plate on the net profit, this quarter, we deliver double-digit growth on around 14.5%. The amount is 188, and also the net margin we increased to 17.3%. On the nine-month basis, we increased on the profit 8.5%. The amount is 626. On the cash, we still have a lot of cash, around THB 1.7 billion, which we already pay out the dividend on the first, first half of our performance. We paid around THB 0.55 per share in March. For the sales, offline still reduced down where from overall economy. On the nine-month basis, our offline sale minus around 5.1%.
For the online nine month, we increased 66, 66.3%. You can see that from the sales contribution, we increased from 10% nine months last year to around 16% this year. Mainly on the online, the key driver is from TikTok, which is around 60% of the online. On the gross margin, we still keep improving. On the gross profit, we increased 7.7%, which aligns on the top line, and we can improve on the gross margin a bit to 62.8%. For nine month, we are still on track. On the gross profit, we increased 2.4%, and on the margin, we improved to 64.3%. On SG&A, this quarter, we increased 6.4%, and on the SG&A to sales, we can control a bit. We improved on the SG&A to sales, down to 41.7%.
On the nine-month basis, SG&A increased only 1.4%, and also we can improve on SG&A to sales down to 41.6%. From the sales that we increased, we improved on gross margin. We can control on SG&A. On the EBITDA, we can go out around 15% this quarter to 400, 245%, 245, and on the EBITDA margin improved to 24.6%. On the nine-month basis, we increased 6.1% and EBITDA margin to 24%. Include everything, our net profit is up around 14.5%, net margin 17.3%, and for nine month, we grow on the net profit 8.5%, and we deliver on the net margin, improved right now to around 19%. On the balance sheet, we still cash rich, and also the account receivable, we still manageable to around 254. Event three, I would like to highlight on, on this point.
You can see that on the nine-month basis right now, total inventory, we can lower than last year. You can see from the inventory month turn, right now is around 10.3 months. We expect, our target to close on the inventory on the end of our fiscal year, which is in June, around THB 1.1 billion, and also on the month turn would be on the single digit. On the ROA and ROE, we keep improving. ROA right now 18%, and ROE, already up to 21%. On the dividend basis, we pay out nearly 100% payout ratio, which is higher than our policy. You can see from, since we listed in the SET, we pay at least around 90% and nearly 100% in the last four years. Next is on the business update.
All right. Thank you, goodbye. Just before I get into some of the details, I think it's worth reminding everybody what are the key things that help MC continue to deliver solid results both top and bottom line. Everything starts with a strong brand reputation. We're well known, as Kunpiya mentioned. We've been in the market for almost 50 years, and that in itself affords us a lot of awareness and recognition from our core customers. Our portfolio has been expanding. Since I've been here, I've been trying to expand our portfolio, drive it beyond denim. It's to the point now where denim is about 35%, and we intend to keep it that way. Because denim is 35% doesn't mean that it's not growing.
It continues to grow, but we're growing other product lines at a much faster rate, whether it's T-shirt, accessories, shoes, and I think we've gotten positive feedback from our customers in terms of the diversification of products as well as the quality and the accessibility and affordability of our brands and products. On network, we have a huge number of touch points with our consumers. Piya mentioned we're almost at 600. That breaks down to standalone shop, department stores, outlets, as well as some local key accounts. Among that, I think we have quite an extensive presence in the market. To help drive all this growth and to capitalize this, we've got quite a strong and experienced and stable management in the company.
I think you cannot underscore that enough, to make sure there's continuity, continuity of strategy and make sure that we get to execute things that we need. Again, everything is underpinned by a very strong financial position. We're relatively cash rich and we're debt free. I think our key metrics have been moving in the right direction. You know, we're growing top line faster than SG&A, but we're growing bottom line faster than top line. I think this is the perfect combination that we would like to sustain and make sure that we continue it as we move into the future. Everything, you know, we've been building a mindset of customer-centric, since I've been here. I think we've made good progress on that journey.
If you look at our CRM program, we have members of close to 1.4 million, and they represent at least half of the purchase. That is a key competitive advantage that we would like to keep and maintain. Okay, moving on, just to give you a snapshot of what our business is. Our revenue is expected to far exceed THB 4 billion by the time we close our business in June for the fiscal year, split between male and females, about 60/40, with female growing at a much, at a better clip than male. That's not because male's not doing well. I just think we've been underrepresented in women, and we have opportunity to drive and bring out more products that meets the need.
Our customer base, CRM, I said, is about 1.4, 1.5, and over half of them are active members. On the, a little bit more detail on the split on the product mix, you can see denim. We've come down from last year from above 40 to 35. Non-denim has grown as well as accessories, which is shoes, bags, hats, you name it. On the right side, you see the channel split that we have. Online continues to grow. Bia showed you that we're growing at 60+% on a year to date. That's by design and intentional. We've had quite a few successes on how to crack the online business, and we can get into that as we go through the presentation. Okay. What's driven our business the last year or so? Four key buckets.
First is the product itself, starts with the products, and then the channels, managing the channel and making sure that we drive customer experience to the level that is uncompared. At the same time, everything's underpinned by margin and productivity. One could argue that margin and productivity comes first, but, you know, I'm looking at it from a customer standpoint, from a consumer standpoint. The first one is about expanding categories. What do I mean by expanding category? I think you all know I mentioned it already. It's expanding our portfolio beyond just denim. Even with denim, it's refreshing it, you know, bringing out new silhouettes, appealing to younger generation, which we've got data to back us up saying that, you know, it's working well and we'll continue to do that.
This includes the fades, the design, you know, moving from skinny and straight to more wide leg, bootleg cut, and more baggy designs, which is in line with what the market wants. It also drives the average age lower. So that's been instrumental in us being able to continue to grow denim at a satisfactory rate. Okay. Sustainability is also a key part. You know, I think in today's consumers, you know, they do not just look at what the product is, how much it is. They look at how it is made, where it is made, and, you know, is it green. So we have been making quite considerable steps to really drive that going forward. On non-denim products, you know, we tend to be fast to market design. One of the complaints that I have had is that it takes us too long.
We've shown that lead time through working with our suppliers and internally and basically through better demand plan management. That has enabled us to reduce the time to market from design to in market. Seasonal products are still very important. You know, you all know that most of the, a lot of our volume comes in our second quarter, which is October, November, December. That's when we come up with a lot of products. That help really drives us and it sets us in a good place to really accelerate and kick off when we get into the new year. Accessory as a necessity. Everything we have, our DNA is rooted in denim, but everything that we come up with has to be able to go well with denim.
There are lots of opportunities on that front, and we've been doing that and driving. Okay. From a marketing standpoint, we continue to use our two key celebrity, which is Ananda and Amanda, to really drive and influence our key customers. From our logistics, from a planning standpoint, we've been diversifying our sourcing basis, not just to include Thailand, but also expand. That is, in a nutshell, one of the key strategies that we have in expanding our categories. Okay. These are just some nice pictures to give you a break on our recent product highlights. We're going with, this is what I've handpicked for you, which is our resort collection, which has received quite good feedback from our customers. Again, it's just to give you a taste of the product evolution that we've undergone. Okay.
This is our recent marketing highlight campaign where we use Amanda to come up with the Best of Me campaign, you know, and we've sub-named that we're Bright Me, Love Me, Rock Me, Bold Me, Complete Me, Best of Me. So that's all the campaign. It's all about giving confidence that MC can help bring to any generation, any demographics. Okay. So this campaign has kicked off and we're quite happy with what we've been able to generate from it so far. Okay. Now this is a key thing. You know, you all heard us yap on about how online is growing really well. Part of the success of online is coming up with online exclusive items. You know, these are products that are not sold in our offline. This ensures generally very little or no cannibalization.
The main difference between offline and online is, online, the amount purchased per time tends to be lower. It's people usually buy one piece, so it's below THB 1,000. Whereas if you go to offline, once you get traffic into store, the purchase is closer or above THB 2,000 and they buy two to three items. There's different habits, different insights that we need to glean to make sure that we provide the right product at the right time, at the right price for our customers on the online. The exclusive items that we've come up has worked quite well for us. Our second key strategy is about channels. It might be a little bit of a misnomer when we say expanding. We've expanded for the last few years, but this year it's more about consolidating, if anything.
We continue to get good growth on certain channels. You know, we did roadside expansion, we did store enlargement. Just a quick word on store enlargement. This is a very critical area for us because as our portfolio grows, our diversification, our product grows, we need to manage the stores because in general, our stores are on the small side. We need to make sure that we're very clinical and focused on how we manage the in store. Okay. This also, under by store renovation for a better experience. I think if you go out to our flagship stores, which we have four right now in different parts of town, you'll see the brightness, the largess of the store and how we've organized it. The accessory corner, for example, this has really helped drive us, our business.
E-commerce, it's about product exclusivity I mentioned already and making sure that we put the right resources behind the potential growth. Okay. One thing good about e-commerce, if you drop it down to the profitability and EBIT line, it's generally better than offline. Okay. For obvious reasons that we don't have to pay rent, but we do have to pay fees. We need to manage that very carefully as we go forward. Okay. One of the things on e-commerce is we also provide opportunity to build careers for those who don't work for MC, but are affiliated with MC. One of the key drivers is our partnership with TikTok as well as all the live campaign that we've started the last 12 months, which has really helped drive our growth. That's a quick word on our channels as we move forward. Next page.
This, just some pictures to back up our claim that, you know, we now have a very extensive live program. We've built our own live shops at our MFC facility. So now we have different rooms for different products, whether it's outlet products, accessory products, denim only, or green screen for partners and affiliates to come in and use. Okay. This is again, earlier this year, I think February, March, we did a live base with TikTok. I think the key point here is that we begin live, we began, we have begun doing live selling at our online, offline stores and selected offline stores. We're testing that to see if it works. Okay. So far, so good. The third strategy is all about elevating our experience.
and the way I look at this is, you know, how do we make CRM, our customer relationship program, to be a profit center? Okay. We have good ratio of member sales, repeat purchase, higher ATV than average. I think we still have opportunity to drive loyalty with our customer more through more customization and much more actively engaging with our members. That's something that we're working on right now. Again, we revamped our whole CRM platform this year, and that's also just beginning to generate some positive returns for us. We look forward to continuing that journey as we move into next year. Lastly, I think it's about margin and productivity. One of the things that allows us to do everything is that we have pretty healthy gross profit margin of, you know, 64% or greater than 64%.
That's something that we've been able to do now for two to three years, and we'll maintain that. The rule going forward for the team is that you go down to 65, you come and see the CEO, below 65. Okay. We want to continue to drive this and grow this. Efficiency is also a critical area of focus for us, not only now, but moving forward, especially with the offline channel where we measure, excuse me, sales per square meter and productivity and sales per employee.
You know, we're bringing a lot of data, a lot of science, supported with some AI, testing here and there to make sure that we maximize the return on investment that we do in every channel that we operate to allow us to maintain the strong margins, which allows us to invest in the business moving forward. Those are the four sort of underpinning strategy. I think, as we move forward, you know, there's some headwinds that are coming. You all see the quarterly results of some of our adjacent businesses and people will look, it's tough for everybody right now, but I think we're well placed, because we still have plenty of room of growth, driven by the four strategies that I've alluded to. We remain competitive in our products. We're very focused on what our strategy to execute.
I think just a quick word on that. Strategy is not only important what you're gonna do, but also choices that you make that you won't do. That's very important. Everything has to be underpinned by financials and organization readiness. That's it that I wanted to just give you a touch base. I hope you all get a good question. I'll be happy to entertain any questions that you may have.