STGT Records 90% Decline in 2023 Earnings,Offering THB0.50 Dividend Payment

Sri Tran Gloves (Thailand) Public Company Limited (SET: STGT) has announced its 2023 consolidated financial statement through the Stock Exchange of Thailand as follows;

Year 2023 2022
Net Profit (Loss)
Million Baht
152.69 1,652.05
Earning Per Share
0.0500 0.5800
% Change -90.76

STGT reported a net profit of 152 million baht in 2023, decreased 90.76% from a net profit of 1,652 million baht in 2022 with a net profit margin of 0.8%. 

Total revenue in FY2023 amounted to THB 19,665.2 million, decreased THB 3,639.6 million or 15.6% YOY. Meanwhile, the ASP in FY2023 was THB 605 (USD 17.46) per 1,000 pieces, declining 24.2% YoY because of the ongoing oversupply situation.

Sales volume in FY2023 totaled 31,384million pieces, growing 8.9% YoY across all products, with NRPD growing at 7.8%, NRPF at 10.6% and NBR at 8.6%.

In addition, the Board of Directors approved a dividend payment of THB0.50 per share to be paid on 8 May 2024. The ex-dividend date is 18 April 2024.