STGT Books THB12.9 Billion of Revenue in 2Q21 as Production Maintains at High Level

Sri Trang Gloves (Thailand) Public Company Limited (STGT) stated that the company continues to grow at a healthy pace in Q2/2021 earning a total of 12,967.7 million baht, giving positive boost to the half-year earnings, despite temporary factory closure in Trang and Surat Thani following discovery of Covid-19 infections among some workers, but the outbreak was quickly contained. The Board, meanwhile, approves an interim dividend of 1.25 baht per share and will declare XD on August 23 and another dividend of not less than THB 1.25 per share to be paid in December. The second half-year expects to see increased production as the Surat Thani 2 and 3 plants resume operations with two others in Trang and Songkhla to follow.

 

Ms. Jarinya Jirojkul, Chief Executive Officer of STGT, a major global producer of latex and nitrile gloves, reports that the company has been able to achieve steady growth during Q2/2021 even in the face of a temporary closure of its plants in Trang and Surat Thani due to Covid-19 infections among some workers. Total earnings for the quarter came to 12,967.7 million baht, up 164.7% from the same period last year, resulting in a net profit of 7,280.1 million baht, up 590.5% from last year.

 

As a result of the company’s positive performance, the Board of Directors has approved an interim dividend of 1.25 baht per share and the XD declaration will be on August 23, and pay the dividend on September 8, 2021. And another dividend of not less than THB 1.25 per share to be paid in December after the approval of 3Q21 financial result.

 

Overall performance for the first six months of 2021 remained robust compared to last year’s, resulting in total earnings of 28,401.4 million baht, an increase of 227.4% over the same period of last year, and a net profit of 17,331.7 million baht, up 1,068.7% from last year. All this came about thanks to strong global demand for gloves in the fight against Covid-19 infections and in the on-going vaccination campaigns. Meanwhile, the re-opening of the Surat Thani 2 plant helped boost production capacity.

 

The STGT CEO adds that the outlook for the second half of the year is expected to see benefits from increased production as the Surat Thani 3 plant came online at the end of July while a plant in Sadao district of Songkhla and another in Trang are to begin operations in the second half of the year. Latex glove production is expected to increase to 36,000 million pieces a year from 33,000 million pieces a year.

 

As a rule, the company pays special attention to employees’ health and safety, including by acquiring Sinopharm vaccines for all. Most recently, the company has completed its vaccination program, giving all employees two shots of the alternative vaccine while additional hygienic care measures have been implemented in all plants.