JMART’s 2021 Earnings Hit All-Time High at THB2.4 Billion, Offering THB1.06 Dividend Payment

Jay Mart Public Company Limited (SET: JMART) has announced its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows;

Yearly 2021 2020
Net Profit (Loss)
Million Baht
2,467.60 797.87
Earning Per Share (Baht) 2.39 0.88

JMART reported a net profit of 2,467 million baht in 2021, increased 210% from a net profit of 797 million baht in 2020. The net profit in 2021 was considered the highest profit in the history of the company’s operations for the third year in a row.

The company’s total revenue in 2021 was 11,792.8 million baht, an increase of 588.8 million baht or 5.3 percent over the same time the previous year.

In 2021, the company had total cost of sales and services of 8,107.0 million baht, an increase of 621.2 million baht from the previous year or an increase of 8.3 percent, due to an increase in sales in the mobile business.

Meanwhile, the company had total selling and administrative expenses of 1,778.0 million baht, a decrease  of 16.5 percent, mainly due to a decrease in allowance for doubtful accounts from loan receivables in subsidiaries.

The company’s share of profit from investments in associates in 2021 was 1,531.5 million baht, owing to increasing earnings in associates. In addition, the company recorded a profit of 1,230 million baht from a change in the proportion of the investment in the associated company because of having investors participate in the associate company Singer at a price higher than the price at which the company purchased it before.

In addition, the Board of Directors approved a dividend payment of THB 1.06 per share to be paid on 6 May 2022. The ex-dividend date is 19 April 2022.