Vending Machines Top Up SABUY’s Earnings by 157% in 2Q, Handing Out ฿0.03 Dividend
SABUY reported a net profit for 2Q21 of THB 47.1 million, an increase of 157.2% YoY, which was in accordance with the growth in gross profit together with enhanced efficiency in cost management for administrative expenses.
SABUY Technology Public Company Limited (SABUY) has announced its 2Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
SABUY’s net profit for 2Q21 amounted to THB 47.1 million, an increase of THB 29.6 million or 157.2% from the same period last year and an increase of THB 14.2 million or 39.8% from the previous quarter. This increase in the net profit was in accordance with the growth in gross profit together with enhanced efficiency in cost management for administrative expenses.
The company’s net profit for the first half of 2021 (ending 30-Jun-2021) amounted to THB 80.8 million, an increase of 69.3% from the same period last year which reflected the sound company business strategy.
Sales and services revenue of SABUY for 2Q21 (ending 30-Jun-2021) was THB 397.5 million, rose by THB 48.0 million or 13.7% from the same period last year and increased THB 23.7 million or 6.3% from the previous quarter. This was due mainly to the service expansion of company’s top-up machines spreading throughout nationwide with more reachable than bank branches and ATM, while people are taking more precautions against making direct human contact during this COVID-19 pandemic and with increasing revenue from additional rollout of ePayment services through 70 additional food courts in 2nd quarter.
Moreover, the company generated higher revenue from selling higher-value products such as face masks and telephone chargers through vending machines. In the meantime, the number of new vending machines installed in factories, offices and shops rose steadily even though with some difficulties in refilling products into vending machines located in department stores and some factories due to traveling restriction or closure across the nation.
In this quarter, SABUY started to recognize additional revenue from subsidiary company A.T.P. Friend Service Co., Ltd of THB 1.9 million.
Sales and services revenue for the first half of 2021 (ending 30-Jun-2021) was THB 771.2 million, representing an increase of THB 51.7 million or 7.2% from the same period last year.
In addition, SABUY has passed a resolution to offer an interim dividend payment at the rate of 0.03 baht per share to be paid on September 2, 2021, with an Ex-dividend date on August 18, 2021.