ICHI 2Q Earnings Dip 7% as Expenses Erase Gains from Higher Sales Revenue

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

Quarter 2Q22 2Q21
Net Profit (Loss)
Million Baht
152.54 164.29
Earning Per Share
0.1200 0.1300
% Change -7.15
6 Months 2022 2021
Net Profit (Loss)
Million Baht
256.47 285.87
Earning Per Share (Baht) 0.2000 0.2200
% Change -10.28

ICHI’s net profit in 2Q22 was 152 million baht, decreased 7.15% from a net profit of 164 million baht.

In 2Q22, the company had sales revenue of 1,616.5 million baht, which increased by 123.8 million baht or equivalent to 8.3% from the same period of previous year that earned sales revenue of 1,492.7 million baht, and domestic sales increased by 11.4%, while as export sales decreased by 11.5%, because of the impact of the economic slowdown in partner trading countries.

However, total expenses rose slightly by 10.40% to 1,443 million baht in 2Q22.