BTS’ Profit in 3Q20/9M20 Jumps over 100% after Booking Higher Profit from JV Companies

BTS Group Holdings Public Company Limited (BTS) has reported its 3Q20 consolidated financial statement, ending December 31, 2019, through the Stock Exchange of Thailand as follows;

In the 9-month period, BTS recorded a net profit of THB 4,631mn, rose by THB 2,385mn or 106.2% YoY. Net profit growth was mainly attributable to improved performances within BTS’ Mass Transit and Media businesses and higher share of net profit from investment in U City Public Company Limited (U), following the gain of THB 1,118mn from the sale of Mo Chit Land Company Limited (Mo Chit Land) by U City, being partially offset by higher finance cost and income tax.

 

As for the third quarter, BTS’ recurring net profit (after minority interests of THB 191mn) stood at THB 2,378mn, a substantial increase of 142.7% or THB 1,398mn YoY and profit of BTS was THB 2,460mn, increasing considerably by 106.9% or THB 1,271mn YoY. The growth was chiefly from an increase in recurring gross profit and a higher share of net profit from associates/ JVs.