BA’s 2018 Profit Sinks 68% to ฿250M., Proposing Dividend at 0.08/share, XD March 12

Bangkok Airways Public Company Limited (BA) has reported its consolidated financial statement 2018 through the Stock Exchange of Thailand as follows:

BA reported profit before income tax amounting to THB 356.8 million, decreased from the same period last year by THB 961.6 million or 72.9%. After corporate income tax, net profit was THB 263.7 million of which gain attributable to equity holders of BA at the amount of THB 249.3 million, decreased by 68.36% YoY.

BA has total revenue of THB 27,943.6 million, decreased by 1.9% from the year. A decrease was mainly from unallocated revenues which dropped by THB 774.0 million or 21.7% from year 2017.

The revenue from airline business slightly declined by 0.1% from highly intense competition which caused the average fare drop by 0.1%. However, the revenue from airport-related services increased by 6.1% from a rising number of flights landed at Suvarnabhumi airport, together with new airline customers derived during the period.

Total unallocated revenues of BA for year 2017 and year 2018 decreased from THB 3,561.8 million to THB 2,787.8 million respectively or dropped by 21.7%. A largely decrease was mainly from gain on sales of investments in marketable securities which dropped by THB 1,353.4 million or 77.9%. However, BA has gained on foreign exchanges and received other revenues higher than the same period last year by 195.8% and 32.0% respectively.

 

In addition, BA has announced that the company is proposing a dividend payment from operating period of 2018 to the shareholders at the rate of ฿0.08/share in cash to be paid on April 30, 2019. The ex-dividend date is March 12, 2019.