PTG Slipped! Shares Sank 4% after the Financial Statement of 33% Decrease in Profit
A decrease of 33% in net profit from PTG has been revealed through their consolidated financial statements this morning (August 14, 2018). PTG’s shares skidded 4% after the market opened.
PTG announced their 2Q18 consolidated financial statements through SET that shown a net profit of 176 million baht, which was a huge decrease of 33.18% from the same period of last year. The statements caused PTG to decline 4% since the market opened on August 14, 2018.
PTG’s revenue from sales and services was 27,089 million Baht, reflecting an increase of 26% YoY and 9% QoQ. However, the profits were erased by two major factors. First, cost of sales was 25,271 million Baht reflecting a rise of and service 27% YoY and 11% QoQ. Second, SG&A expenses was 1,628 million Baht reflecting an increase of 24% YoY and 4% QoQ. This is mainly caused by the expansion in number of branches of oil business and non-oil businesses according to PTG’s target.
PTG’s price on August 14, 2018 at 11:21 A.M. sank 4.29% or THB 0.60/share to THB 13.40/share. The highest was THB 13.70/share, while the lowest was THB 13.10/share with 109 million baht in value. This is the new low of PTG’s share price in two and a half year.
