Mr. Chaiwat Sriwanwat President Tipco Asphalt Public Company Limited or TASCO revealed that the company’s operating results in the 2nd quarter of 2023, the company had a total revenue of 8,057 million baht and a net profit of 744 million baht, an increase of more than 27% compared to a net profit of 587 million baht in the second quarter of 2022.
However, the good performance in the second quarter of 2023 is due to several reasons: 1. High sales in foreign markets such as Vietnam, Indonesia, and Cambodia; 2. The average selling price of bitumen remains high amid the crude oil price situation. 3. higher revenue recognition from construction business; and 4. selling and administrative expenses as a percentage of revenue was low at 4.0% compared to the same period last year at 4.0%. 4.3%
The company has sales of asphalt at approximately 0.29 million tons, divided into sales for the Thai market around 0.14 million tons and sales for foreign countries 0.15 million tons, respectively. Government budget disbursement continued from Q1 as well as foreign markets such as Vietnam and Cambodia, which continued to have good sales performance.
As for Q2/2023, the average selling price of asphalt remained high. Although the average crude oil price in the world market has decreased from the previous quarter by 5 percent, resulting in the company There was a profit from hedging of product price insurance amounting to 79 million baht.
In addition, the Company also recognized higher revenue from construction business, especially from the 3rd runway construction project at Suvarnabhumi International Airport and the soil quality improvement project at the apron adjacent to the 2nd concourse building at Suvarnabhumi Airport ( SAT-2)
Finally, the meeting of the Board of Directors Resolved to approve interim dividend payment to shareholders. In cash at the rate of 0.25 baht per share, the non-dividend date (XD) is set for August 23, 2023 and the dividend payment is scheduled for September 7, 2023 in return for the shareholders who have always supported the company. Reinforcing the fact that the company is one of the companies selected to be in the SET High Dividend Index (SET HD).
2023-08-10 12:10:45
#TASCO #shows #profit #growth #touching #million #paying #dividends #baht #Aug
