CWT’s Profit Jumps over 290% in 1Q21 to ฿55Mn due to an Improving Sales Revenue

Chai Watana Tannery Group Public Company Limited (CWT) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows; 

For the three-month period ended 31 March 2021, CWT has a profit based on profit sharing (loss) attributable to the company, showing a net profit of 55.49 million baht, compared to the same period of previous year at 13.94 million baht, an increase of 41.55 million baht, or an increase of 298.06%.

 

The company had income from sales and services of 490.66 million baht, an increase of 36.57 million baht or an increase of 8.05% compared to the same period of the previous year. This was due to the revenue from tanning service and the revenue from the sale of leather for car seats increased in line with the number of cars produced according to the model received. Revenue from electricity sales is based on the MW total received by the company 14 MW. And the company has not had any revenue from sales of boats and minibus for this quarter. 

 

Due to being in the process of producing and delivering in the next quarter. The company had another income of 12.10 million baht, an increase of 5.71 million baht compared to the same period of the previous year. And had a share of profit from investment in associates of 1.52 million baht, an increase of 0.89 million baht, the company had total revenue for the three-month period ended 31st March 2021 presented at the amount of 504.28 million baht compared to the same period of the previous year with total income of 461.41 million baht, an increase of 42.87 million baht, or an increase of 9.29%