BEM’s 2Q19 Profit Soars 220%, Offering ฿0.06 Dividend, XD 22 August

Bangkok Expressway and Metro Public Company Limited (BEM) has reported its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

In the second quarter of the year 2019, BEM had a net profit in the amount of THB 3,118 million representing an increase from the same quarter of the previous year by THB 2,140 million or 218.8% mainly from gain on reclassification of investment, net of tax, in the amount of THB 2,334 million in this quarter.

BEM had revenue from expressway business, rail business and commercial development business in the amount of baht 3,862 million representing an increase from the same quarter of the previous year by baht 63 million or 1.7% mainly from the Si Rat-Outer Ring Road Expressway (SOE).

Other income increased by baht 60 million or 750% mainly from the record of dividend income from CK Power Public Company Limited (CKP) in the income statement after the reclassification of investment in the third quarter of the year 2018. However, gains on sale of investments decreased due to BEM had gain on sale of investment in Xayaburi Power Company Limited (XPCL) in the amount of baht 244 million in the second quarter of the year 2018.

On April 26, 2019, the 2019 Annual General Meeting of BEM’s shareholders had a resolution to approve a payment of an interim dividend of ฿0.06/share on September 19, 2018, XD August 22.