SEAFCO’s 3Q Profit Shrinks 77% to ฿23Mn as Covid-19 Outbreak Causes Labor Shortage

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

SEAFCO reported a net profit in 3Q20 of 23.38 million baht, decreasing 77.22% YoY, mainly due to the revenue for the period was 525.26 million baht, decreasing 30.84% YoY as the result of labor shortage to the covid-19 situation.

 

Cost of hire of work, sales of materials and services was 465.75 million baht, decreasing 22.52% YoY. Gross Margin was 11.33% in 3Q20 compared with 20.85% at the same period in year 2019, decreasing 9.52% YoY.

 

Administrative expenses and financial cost was 34.69 million baht, decreasing 11.07% YoY.