Sri Trang Agro-Industry Public Company Limited (SET: STA) has announced its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows;
|Net Profit (Loss)
|Earning Per Share (Baht)||10.32||6.21|
STA reported a net profit of THB 15,846 million in 2021, increased 66.26% from a net profit of THB 9,531 million in 2020.
Revenue from the natural rubber (NR) business came in at THB 70,701.1 million, accounting for 59.8% of total revenue and growing 58.6% YoY on the back of a strong rebound in demand. Sales volume across all NR products was 1,294,724 tons, increasing 25.4% YoY, a growth that was higher than the growth in global NR consumption in 2021 of 9.4%. As a result, the market share in FY21 (including consumption from STGT) increased to 10% of global NR consumption, up from 9% in FY2020.
STA’s average selling price (ASP) increased 26.0% YoY and was higher than the average price of TSR20 on SICOM in FY21 of 167.8 cent/kg. With improved competitiveness and effective cost management, gross profit margin of the NR business in FY21 was 12.5%, a new high.
STA stated that the gloves business recorded THB 47,497.2 million in revenue, which accounted for 40.2% of total revenue and grew 54.5% YoY alongside the growing global demand. The ASP rose 58.6% on the back of robust global demand. Sales volume, meanwhile, decreased 2.6% as a result of the temporary suspension of production following an outbreak of COVID-19 in 2Q21 as well as the global container shortage and shipping congestion that persisted throughout the year.
In addition, the Board of Directors approved a dividend payment of THB 0.65 per share to be paid on 6 May 2022. The ex-dividend date is 19 April 2022.