A Plummet of Revenue Drags SYNNEX’s 2Q Profit Down by 26%, Still Paying ฿0.15 Dividend

Synnex (Thailand) Public Company Limited (SYNNEX) has reported its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

SYNNEX’s 2Q19 net profit was THB 118.79 million, decreased by THB 42.40 million or 26.30% from the same period last year. The main reason for the decrease was due to the lower revenue driven by customers’ reluctance to purchase consumer products amid uncertainty over trade policy between US and China.

However, higher revenue from sales of commercial products, the introduction of various new branded products, corresponding to the latest advances in technology and market demand, as well as continued focus on before and after sale services would help revenue and operating performance to recover in the second half of the year.

Moreover, SYNNEX continued to control both selling and administrative expenses in order to enhance operating efficiency and leveraged technology to improve business operations to create sustainable growth opportunity.

In addition, the Board of Directors has passed a resolution to pay an interim dividend from the operating results for the six‐month period ended June 30, 2019 at ฿0.15/share. The ex-dividend date will be on August 20, 2019 and the payment date will be on September 2, 2019.