GFPT Posts a Net Loss of THB87 Million in 3Q21 on Lower Sales Revenue
GFPT reported a consolidated net loss of THB 87.29 million, driven from lower revenue from sales and higher cost of sales from higher raw material price of feed production compared to 3Q20
GFPT Public Company Limited (GFPT) has announced its 3Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
In 3Q21, GFPT reported a consolidated net loss of THB 87.29 million or equal to loss per share of THB 0.07, decreased by THB 429.35 million or 125.52% down from 3Q2020. The decrease in consolidated net profit was primarily driven from lower revenue from sales and higher cost of sales from higher raw material price of feed production compared to 3Q20. The consolidated net loss margin in 3Q21 was 2.67% of revenue from sales, decreased from 9.45% in 3Q20.
The consolidated net profit for 9M21was THB 155.15 million, decreased by THB 734.53 million or 82.56% down as compared to 9M20 mainly from lower revenue from sales and higher cost of sales from higher raw material price of feed production.
The consolidated revenue from sales for 3Q21 were THB 3,264.28 million, decreased by THB 355.37 million or 9.82% down from 3Q20, mostly from lower revenue from farm segment which decreased by THB 343.58 million or 28.63% down comparing to 3Q20 primarily from lower revenue from selling live broilers.
The consolidated revenue from sales for 9M21 was THB 10,268.78 million, decreased by THB354.13 million or 3.33% down as compared to 9M20 mainly from decreasing revenue from the farm segment.
The consolidated revenue from sales in 3Q21 consisted of the food segment represented 49.39%, farm segment represented 26.23%, and feed segment represented 24.38%.
The consolidated share of profit from associated companies based on the equity method in 3Q21 was THB 19.91 million, decreased by THB 48.52 million, or 70.90% down from 3Q20 mainly from loss contributed from GFPT Nichirei (Thailand) Company Limited (GFN) was THB 42.80 million, decreased by THB 53.70 million or 492.57% down from 3Q20 mainly from lower export volume of processed chicken and lower selling price of domestic chicken parts. Nevertheless, profit contributed from McKey Food Services (Thailand) Limited (McKey) was THB 62.71 million, increased by THB 5.18 million or 9.01% up compared to 3Q20.