MALEE Reports a Net Loss of ฿52M in 1Q19 due to High Cost and Sales Decrease

MALEE group public company limited (MALEE) has reported its 1Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

The Company and its subsidiaries recorded net loss of THB 52 million, a decrease from net profit of THB 9 million in Q1/2018, mainly due to
1) sales decrease
2) higher cost per unit as a result of lower utilization rate
3) selling and administrative expenses recognition from Long Quan Safe Food JSC (LQSF)
4) higher employee benefit accrued
5) higher finance costs due to higher borrowings as a result of previous investment.
However, the Company has been focusing on following recovery plans and has improved loss from Q4/2018 at Baht 143 million by escalating utilization rate, and better expenses and costs control and reduction.