Covid-19 Pandemic Pressures CPALL’s 2Q Profit to Decline by 40% to ฿2.89Bn

CP All Public Company Limited (CPALL) has reported its 2Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

The net profit was 2,887 million baht in the second quarter of 2020, a 39.79% decrease year-on-year. Total revenue was 128,027 million baht. A decrease of 10.6% from the same period last year was mainly driven by lower sales and service revenue of convenient store business and cash & carry business under the name “Siam Makro”. The sale and service revenue was impacted by the government’s measures to contain the COVID-19 pandemic, which affected in April and lessened in May and June following ease of the government’s measures.

 

While gross profit in the second quarter of 2020 was 26,442 million baht, declined by 14.9% from the same period last year. Gross margin to sales and service income in the consolidated financial statement narrowed to 21.5% from 22.5% in 2Q19, mainly from lower gross profit contributed from the convenient store business.