TKN Records 46% Decline in 1Q Profit at ฿81M. as International Sales Plunge 7.5%

Taokaenoi Food & Marketing Public Company Limited (TKN) has reported its 1Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

TKN has announced a 46.4% fall in 1Q19 profit to record at THB 81.3 million from THB 151.7 million in 1Q18. The company recorded revenue from domestic sales in the first quarter at THB 569.3 million, increased by 12%. However, TKN faced a 7.5% decrease in international sales to record at THB 752.6 million. China’s market is still the main export market, which accounted for 35% of total revenue from sales but the sales decreased by 18.1%.

Moreover, TKN also have higher distribution costs and administrative expenses at THB 204 million and THB 87.5 million, respectively, increased by 4.6% and 2.1%, respectively.