JMT’s 2Q Profit Increases 24% after Booking Higher Revenue with Dividend Payment of ฿0.25

JMT Network Services Public Company Limited (JMT) has reported its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

The performance of JMT for the second quarter of 2019 showed a net profit of THB 148.5 million, increased 23.9% from the second quarter of 2018. This represents net profit margin of 25.3%. JMT’s 6-months end of 2019 net profit was THB 293.0 million, increased 24.2% from the same period last year. JMT’s 6-month end net profit margin stood at 25.9%. An increase of net profit was a result of JMT has higher revenues from collection of purchased accounts receivables.

JMT’s total income for the second quarter of 2019 equaled THB 586.1 million, which was an increase from the same period for the previous year by THB 137.1 million or an increase of 30.5%. While JMT’s total income for the 6-month end was THB 1,132.9 million, which increase from the same period last year by THB 283.8 million or 33.4 %. The increase was due to:

1) Income from debt collection services and other income for Q2/2019 was THB 91.8 million increase by THB 26.4 million or an increase of 40.3%. For 6 month-end of 2019 was THB 181.8 million increase by THB 57.7 million or an increase 46.5% from the same period last year.

2) Revenues from collection of purchased accounts receivables equal to THB 448.7 million increased by THB 97.9 million or an increase of 27.9%. For the 6 month-end of 2019, JMT’ s revenues from collection of purchased accounts receivables was THB 867.7 million or an increase THB 176.1 million or an increase of 25.5% from the same period last year. This was as a result of JMT collection efficiency increase. The revenues from collection of purchase accounts receivables accounted for 76.6 of total revenues.

3) For the second quarter of 2019, an insurance income was THB 45.1 million, increased from the same period last year at 38.5%. And for the 6 months of 2019, JMT has income from the insurance business equal to THB 82.4 million increase from the same period last year at 152.5%. An increasing was from the insurance business expansion.

 

In addition, the Board of Directors meeting passed a resolution to pay an interim dividend at ฿0.25/share. The ex-dividend date will be on August 27, 2019 and the payment date will be on September 11, 2019.