JUBILE’s 2Q Profit Decreases 47.5% due to the Closure of Stores during Covid-19 Pandemic

Jubilee Enterprise Public Company Limited (JUBILE) has reported its 2Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

JUBILE reported a net profit for 2Q20 decreased from the same period of last year from 66.6 million baht to 35.0 million baht or decreased by 47.5% due to the department stores temporarily closing by the command of government. 

The company has revenue from sales in amount of 251.8 million baht, decreased from the same period of last year by 235.5 million baht or is equal to 48.3%. Due to JUBILE’s branches, where located in department stores, were temporarily closed by the command of government since March 22 to May 16, 2020. These results to dramatically reducing the revenue of this quarter.

JUBILE’s operating result for the 1st half year of 2020, the company has revenue from sales 616.5 million baht, decrease from the same period of last year at 29.4%. Gross profit margin is equal to 49.6%. Net profit for the 6-month period ended 30 June 2020 is equal to 80.0 million baht, decreased by 39.5 million baht or is equal to 33.0% from the same period of last year. 

In addition, the Board of Directors approved a dividend payment of ฿0.18/share to be paid on September 9, 2020. The ex-dividend date is August 25, 2020.