III Reports Outstanding 1Q22 Performance with a 46% Growth in Net Profit

Triple I Logistics Public Company Limited (SET: III) has announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 1Q22 1Q21
Net Profit (Loss)
Million Baht
112.73 77.46
Earning Per Share
0.1816 0.1288
% Change 45.5

In 1Q22, III reported a net profit of THB112.7 million, which was equivalent to over 45.5% growth compared to the same period of the previous year. III has been able to generate outstanding profits by developing new businesses through investments in various businesses related to logistics business. In addition, investments in the last year began to recognize revenues and investments in the year before continuously generate good results. Overall, core businesses continue to grow and can generate good profits in terms of revenue and profit growth. This is in line with growth in the country’s export and import.

Total revenues in 1Q22 was THB74 4 . 8 million, an increase by 17.6% compared to the same quarter of the previous year. The increase was mainly due to growth in revenues from logistics management, particularly air and sea freight.

Meanwhile, share of profits from investment in associates and joint ventures was THB82.5 million or a 54.5% growth compared to the same quarter of the previous year. In this quarter, III recognized share of profit from investment in Asia GSA (M) Sdn. Bhd. Group in the proportion of 20% shareholding in Asia Network International Co., Ltd., which has generated good returns. In addition, operating performance of AOT Ground Aviation Services Co., Ltd. of which III invested through SAL Group (Thailand) Co., Ltd. was able to return to profit this quarter.