Covid-19 Pandemic Pressures CENTEL to Book a Net Loss of ฿45mn in Q1 2020

Central Plaza Hotel Public Company Limited (CENTEL) has reported its 1Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

CENTEL reported a net loss of 45.12 million baht in 1Q20, decreased 105.46% when compared to a net profit of 825.91 million baht in 1Q19 mainly due to a significant decline in total revenue from covid-19 pandemic. 

 

The total revenue for the first quarter of 2020 was at 4,601.2 million baht, decreased 18.5% YoY. Hotel Business achieved total revenue of 1,796.8 million baht, a decrease of 34.8% YoY, resulted by the ongoing coronavirus outbreak and a negative effect from the closure for renovations of Centara Grand Beach Resort Samui.

 

While Food Business revenue was at 2,804.4 million baht, decreased by 2.9% mainly reflected from the decrease in Same Stores Sales as a direct result of covid-19 spreading.