Beauty Community Public Company Limited (SET: BEAUTY) has announced its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Yearly | 2021 | 2020 |
| Net Profit (Loss) Million Baht |
-80.77 | -104.88 |
| Earning Per Share (Baht) |
-0.03 | -0.04 |
| % Change | 22.99 | |
BEAUTY reported a net loss of 80.77 million baht in 2021, improved from a net loss of 104 million baht in 2020. The improvement was mainly from business restructuring and cost saving programs.
The company recorded lower sales revenue in 2021 by 49.61%, decreased from 769 million baht in 2020 to 387 million baht. Meanwhile, cost of sales declined by 36.87% to 223 million baht.
BEAUTY had lower selling expenses in 2021 at 177 million baht, decreased by 54.86% YoY. The decline in selling expenses was mainly due to the adjustment of the company’s cost control on every operational process. The company was focusing on management and cost control according to the (Cost Saving Program), such as expenses related to advertising, promotion, fixed costs (by closing non-performing branches).
BEAUTY stated that it has implemented a crisis management plan to ensure sustainable growth by focusing on three areas: 1) Development of new business models (Re-model) 2) Brand image improvement (Refresh Branding) 3) Management restructuring to improve business efficiency.
The Board of Directors have resolved to omit a dividend payment for 2021.
