SAWAD Reports Slight Decline in 2Q22 Earnings as Expenses Grow from Branch Expansions

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

Quarter 2Q22 2Q21
Net Profit (Loss)
Million Baht
1,041.62 1,106.07
Earning Per Share
(Baht)
0.7600 0.8100
% Change -5.83
Yearly 2022 2021
Net Profit (Loss)
Million Baht
2,077.56 2,467.02
Earning Per Share (Baht) 1.51 1.80
% Change -15.79

SAWAD reported a net profit of 1,041 million baht in 2Q22, decreased by 5.83% from a net profit of 1,106 million baht in 2Q21.

For the three-month period ended 30 June 2022, interest income totaling 1,917.44 million baht, compared to the interest income from the same period of the prior year which totaled 1,623.95 million baht. This represents an increase of 293.49 million baht, or 18.07%. The increase was mainly due to the increase in the Accounts Receivable from 35,734.29 million baht in 2Q21 to 44,634.54 million baht in 2Q22, an increase of 24.91%.

For the three-month period ended 30 June 2022, other income totaling 829.49 million baht decreased by 1.48 million baht or 0.18%, a significant change from the same period of prior year which totaled 830.45 million baht.

For the three-month period ended 30 June 2022, operating expenses totaling 1,117.59 million baht increased by 324.65 million baht or 40.95% from the same period of prior year which totaling 792.94 million baht due to increase in marketing expenses and the expense related to branch expansion from 4,960 branches to 5,043 branches for support a rising number of customers.