Loss from Investment and Sales Plunge ICHI’s Profit by 86% to ฿44M.
ICHI has reported a lower of profit in 2018 from ฿315 million in 2017 to ฿43.8 million in 2018 due to a loss of ฿110 million from investment in the joint venture and a decrease of 8.5% from sales revenue.
Ichitan Group Public Company Limited (ICHI) has reported its consolidated financial statement through the Stock Exchange of Thailand as follows:
ICHI announced a ฿43.8 million of profit in 2018, decreased by 86.1% from a ฿315 million of profit in 2017. The decline was mainly due to a loss of ฿110 million from investment in the joint venture and a decrease of 8.5% from sales revenue.
On the other hand, the company reported a growth of 10.4% from export sales and lower distribution costs from 12.5% in 2017 to 9.9% in 2018 due to controlling of expenses.
