The New Normal Drives SYNEX’s 2020 Earnings by 23%, Offering a Dividend of ฿0.40

Synnex (Thailand) Public Company Limited (SYNEX) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;

SYNEX’s net profit for the year 2020 rose 22.53% to 641.95 million baht, thanked to the increasing demand for IT products to support the “new normal” lifestyle, low level of competition, introduction of new brands with high margins into the portfolio, and efficient management of selling and administrative expenses, and financial costs. 

 

Total revenues were 32,148 million baht, lower than the previous year 7.63% due to the COVID-19 pandemic and the geopolitical tension between China and the United States, which resulted in revenue mobile phone segment dropped significantly, due to the limited supply of Huawei mobile phones. However, it was partially offset by the strong growth in revenue from Apple products. Moreover, demand for IT products increased significantly following the easing of lockdown measures during the second quarter of 2020. 

In addition, the Board of Director of SYNEX approved the resolution to pay a dividend of ฿0.40/share on May 14, 2021. The ex-dividend date is March 8, 2021.