SYNEX’s Profit Falls 28% as a Drop in Sales Volume amid US-China Trade War and Covid-19

Synnex (Thailand) Public Company Limited (SYNEX) has reported its 1Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

SYNEX reported a net profit of 131.68 million baht in 1Q20, decreased 28.49% when compared to a net profit of 184.14 million baht in 1Q19 mainly due to the decline in sale of communication device products driven by the trade dispute between China and the US, and the Covid-19 pandemic, causing supply constraints in some product groups and reduction in sale channels from the government’s measure to contain Covid-19 infection.