SYNTEC’s 3Q Profit Shrinks 88% to ฿18Mn as Construction Revenue Decline

Syntec Construction Public Company Limited (SYNTEC) has reported its 3Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

SYNTEC reported a net profit of 18 million baht, decreasing 88% YoY, mainly due to a decline in revenue from construction and room service.

 

Revenue from construction decreased from 2,188 million baht to 1,827 million baht or gross  profit margin decreased by from 12.24 % to 9.32 % as a result to gross margin decreased of 98 million baht. While revenue from room service decreased from 112 million baht to 67 million baht or gross profit margin decreased from 21.60 % to (22.37 %) as a result to gross profit margin decreased to 39 million baht.