MITSIB Posts a Lower Profit in 1Q20, Decreasing 24% due to a Higher Distribution Costs

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

MITSIB reported a net profit of 12.64 million baht in 1Q20, decreased 23.91% when compared to a net profit of 16.62 million baht in 1Q19 mainly due to a higher expense of 41.7% YoY.

 

Cost of goods sold amount is 70.575 million baht, increase 25.275 million baht or 55.8% because of cost reduction from car purchasing and production cost, while distribution costs amount is 9.517 million baht, increase 4.718 million baht or 98.3%. The main expenditure increased from sales campaign and promotion.