FSMART’s 2Q19 Profit Drops 3% to ฿145 Million from Declining in Core Revenue

Forth Smart Service Public Company Limited  (FSMART) has reported its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

 

FSMART recorded a net profit in 2Q19 was THB 145.25 million, decreasing 3.4%YoY and 2.9%QoQ, kiosk improvement to support new business services and the impact of the new Labor Protection Act (No.7) in the Royal Gazette.

FSMART’s gross profit in 2Q19 was THB 163.64 million, decreasing 11.4% when compared to THB 184.59 million in 2Q18, mainly from declining in core revenue and decreasing 3.3%QoQ due to developing the kiosk that reaches 8 years useful life to be better work. In addition, FSMART closed Boonterm kiosk system for improving its efficiency to support new business and service in the future. Moreover, mobile operators closed their service system on the kiosk periodically and quite frequently for the operators’ top-up system improvement.

The sales profit in 2Q19 was THB 0.02 million, decreasing 97.7%YoY due to continually emphasizing on efficient Boonterm kiosk location. This results in declining of profit from selling additional parts of kiosks such as tripods, roof stand, cement pedestal, coin counter.