KEX Reports a Slight Drop in 2Q21 Earnings, Offering Bt0.743 Dividend Payment

Kerry Express (Thailand) Public Company Limited (KEX) has announced its 2Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

KEX reported a net profit of 335 million baht in 2Q21, decreased 8.14% from a net profit of 365 million baht in 2Q20. The slight decrease in net profit was mainly due to its lower revenue in the quarter.

 

KEX recorded revenue in 2Q/2021 of THB 4,600 million, decreased by 14.6% due to the abnormal surge in volume during the second quarter of last year caused by the first wave of the pandemic and prolonged COVID-19 situation causing consumer’s weakened purchasing power and people to curtail spending in this quarter. With respect to revenue by segments, the revenue contribution from B2B, B2C and C2C segments does not change substantially.

 

Nevertheless, KEX achieved continuous volume growth by handling 166.6 million parcels during the first half of the year, representing 10.8% YoY growth. As a reflection of continuously proactive pricing strategy and pandemic-led peak season, KEX capably handled a record high of delivery volume.

 

In addition, the Board of Directors approved an interim dividend payment of Bt0.743 per share to be paid on September 10, 2021. The ex-dividend date is August 24, 2021.