Rising Demand for Rubber During Covid-19 Leads to a Rebound in TRUBB’s 2Q21 Earnings
TRUBB reported a net profit after tax of 119.59 million baht in 2Q21, making a turnaround from a net loss of 55.50 million baht in 2Q20 as demand for latex and rubber products surged during the Covid-19 outbreak.
Thai Rubber Latex Group Public Company Limited (TRUBB) has announced its 2Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
TRUBB reported a net profit after tax of 119.59 million baht in 2Q21, making a turnaround from a net loss of 55.50 million baht in 2Q20. For the financial statement for the 6-month period of 2021, a net profit was 252.50 million baht, an increase of 1,242% from the same period of last year. This was a rising demand from latex and rubber products during the COVID-19 still outbreaks around the world compared to the same period of last year.
In addition, TRUBB had increased sales volume in 2021 and comparing the average price of field latex of 2020 and 2021, the price was baht 40.56 per kilogram in 2020 and went up to Baht 58.33 per kilogram in 2021, the increase of 43.81% (Source: Rubber Authority of Thailand).
The share price of TRUBB rose ฿0.38/share or 13.87% to ฿3.12/share at the afternoon session’s opening bell,
