OCEAN Jumps 9% to ฿1.35 after a Turnaround to See ฿20.6m of Profit in 2Q19
OCEAN skyrocketed by ฿0.11/share or 8.87% to trade at ฿1.35/share due to the turnaround to see profit in the 2Q19 financial statement.
As of 10:27 local time in Thailand, the share price of Ocean Commerce Public Company Limited (OCEAN) skyrocketed by ฿0.11/share or 8.87% to trade at ฿1.35/share. The highest share price of the session was ฿1.39/share and the lowest was ฿1.29/share with a trading value of THB 26.89 million.
A sudden rise today might due to the financial statement report from OCEAN that turned from a net loss of 28.05 million in 2Q18 to book THB 20.60 million of THB profit in 2Q19.
OCEAN has reported the net profit in 2Q19 at the amount of THB 20.60 million, compared with the same period of 2018, with a net loss of THB 28.05 million, increasing net profit amount THB 48.65 million, consisting of net profit of palm oil trading business THB 20.02 million and the net profit of the business is 0.06 million baht, indicating that the operation of the palm oil trading business is in the direction that better.
Moreover, the revenue from sales and services of faucet business increased from 158.61 million baht to 176.56 million baht In the amount of 17.95 million baht or 11.32 percent as a result of the company’s policy in planning procurement of new products to sell instead of old products that are not popular in the market.