CPN Reports 117% Increase in 2Q Earnings with Higher Investment Income and Profit Sharing

Central Pattana Public Company Limited (SET: CPN) has announced its 2Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 2Q22 2Q21
Net Profit (Loss)
Million Baht
2,753.44 1,268.56
Earning Per Share
0.6100 0.2800
% Change 117.05
6 Months 2022 2021
Net Profit (Loss)
Million Baht
5,081.70 5,103.22
Earning Per Share (Baht) 1.1300 1.1400
% Change -0.42

The company presented a 268% YOY and 7% QOQ growth in 2Q22 net profit of 2,313 million baht with a net margin of 25%. The company received higher investment income and share of profit from an investment as recovery progressed, and so did an income tax expense.

In 2Q22, the company had a total income of 8,731 million baht, which increased 54% YOY and 10% QOQ from a steady improvement in all core businesses especially hotel, food center service, and residential for sale.

The company showed a 2Q22 gross profit of 4,323 million baht, up 107% YOY and 12% QOQ. The gross margin was 50%, up from 37% a year earlier and 49%  a previous quarter, owing to an increase in income more than that in cost. The company maintains its efficient cost control amid rising operating cost conditions.

In 2Q22, the company posted a one-off profit before tax of 345 million baht from a sale of a 10%  investment portion in a joint-venture company “Vimarnsuriya Co., Ltd” to Dusit Thani PLC. per a previous agreement. The company’s share in a joint-venture company remained at 30% .