ECF Posts an Increase of 16.5% in Net Profit to Reach ฿4.10m after S&A Expenses Decrease

East Coast Furnitech Public Company Limited (ECF) has reported its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

The profit of the second quarter of the year 2019 was THB 4.10 million, increased 16.58% from the same period of the last year since ECF has the policy to manage cost of sales and administrative expenses.

In this regard, the cost of sales and administrative expenses have decreased significantly since the second quarter of 2019 due to the management of distribution channel by closing some ELEGA showrooms that could not generate income as planned and stopped running the business of Can Do Thailand.

However, the financial cost has been increasing from the issuance and offering of debenture in the amount of THB 200 million since the first quarter of 2019 with the interest rate of 6.75% per annum. In this regard, such issuance and offering of debenture caused from the objective to prepare the source of funds for the business expansion in the future.