Higher Freight Charge in 2Q Pushes AMA’s Profit to Record a 182% Gain at ฿68m

AMA Marine Public Company Limited (AMA) has reported its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

AMA’s net profit in 2Q19 was THB 68.18 million, increased 181.85% when compared to the profit of THB 24.19 million in 2Q18. A huge jump in net profit of AMA was due to its higher average freight rate in this quarter, making the gross profit of AMA to increase by THB 16.48 million of 27.94% YoY.

The company’s service income also showed an increase of THB 39.04 million or 33.29% YoY, in line with the business plan and the increasing demand for oil transportation. In 2Q19, the company had carried oil volume of 400.64 million liters, grew by 90.38 million liters or 29.13% YoY. In addition, AMA could manage the truck fleet more efficiently, resulting in an increase in the gross profit of THB 29.36 million, increased 141.43% YoY.