COTTO Reports a Slight Decrease in 1Q Profit from Lower Revenue and Higher Depreciation

SCG Ceramics Public Company Limited (COTTO) has reported its 1Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

COTTO reported a net profit of 124 million baht in 1Q20, slightly decreased 3.86% from a net profit of 129 million baht in 1Q19. The decrease in net profit was mainly due to a decline of revenue by 16% YoY. There was also higher depreciation amounted to 33 million baht from machine improvement and sales channel expansion.