Cost of Sales Plunge OCEAN’s Profit even Further to Face a Deficit of ฿146M.
OCEAN faced further loss in 2018 from a higher expense.
Ocean Commerce Public Company Limited (OCEAN) has reported its consolidated financial statement 2018 through the Stock Exchange of Thailand as follows:
OCEAN announced a net loss of THB 147 million in 2018, decreased 352.44% when compared with the operating results of the same period of 2017, with a net loss of THB 31.24 million.
The company booked a higher expense in 2018 mainly from the cost of goods sold that increased from THB 225 million to THB 590 million while the administrative expense increased from THB 30 million to THB 80 million.
On the other hand, OCEAN recorded a higher revenue from sales at THB 611 million, compared to THB 292 million in 2017 while taking advantage on the exchange rate to gain THB 1.7 million when compared to only THB 490,000 in 2017.
