TQM Corporation Pcl. (SET: TQM) has announced its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Yearly | 2021 | 2020 |
| Net Profit (Loss) Thousand Baht |
890,431 |
701,995 |
| Earning Per Share THB |
1.48 |
1.17 |
| % Change |
27 |
|
Service revenue of FY2021 was Baht 3,273.6 million, increasing by Baht 191.1 million, or 6.2% from the increase of sales and services of various insurance products and channels. Motor insurance, which is a core business remained strong. In the cost side service cost and expenses of FY2021 was Baht 1,544.6 million, increasing by 1.8%, in line with the growth of total revenue. However, the revenue growth was higher than the cost increase.
Therefore, the percentage of service cost compared to total revenue decreased from 48.4% to 45.1%.
Gross profit of FY2021 was Baht 1,729.0 million, increasing by Baht 164.0 million or 10.5% because the growth of revenue was higher than the cost increase. Especially, online channel generated growth without a significant increase in service costs.
Administrative costs were Baht 781.0 million, increasing by 4.5%. The percentage of admin expenses compared to total revenue decreased from 23.8% to 22.8%.
