NEX Omits a 2020 Dividend Payment after Net Loss Surges 46% to ฿213Mn

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

NEX had a net loss of 213.59 million baht, an increase from the same period of the previous year by 45.64%. The main cause is transportation service business, assets impairment allowance for doubtful accounts of trade and other receivables and compensation from dismissal, etc.

 

Revenue from operation for the year 2020, totaled 1,403.93 million baht increase from the same accounting period of the previous year in amount 620.59 million baht or 79.22%, an increase due to the revenue about the bus amounted 840.45 million baht, however, income of other business segments decreased at 219.86 million baht, comprising a decrease in electronic products business of 168.65 million baht. Computer and software system business decrease amount of 29.21 million baht and the transportation business of 22.00 million baht

from the impact of the recession at the macro level.

 

In addition, due to the operating losses, the Board of Directors has approved the suspension of dividend payment for the year 2020.