JAS Reports 1Q20 Earnings with a ฿0.05 Dividend Payment, XD May 21

Jasmine International Public Company Limited (JAS) has reported its 1Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

JAS Reported a net loss of 990 million baht in 1Q20, contrasted to a net profit of 559 million baht in 1Q19 mainly due to the FX loss and higher depreciation and interest expenses, caused by the latest Thai Financial Reporting Standard (TFRS).

The total operating revenue of JAS for the first quarter of 2020 was 4,766 million baht, increased by 4 %, compared to that of 4,588 million baht in the first quarter of the year 2019. Most of the total revenue was the contribution of Triple T Broadband Public Company Limited (TTTBB).

In the first quarter of 2020, JAS had the operating loss of 598 million baht, which resulted in the record of the net loss in the first quarter. The loss in operating income was due to the record of the FX gain of 151 million baht, the record of the OFC rental fees (20% according to the Rental Assurance Agreement) that increased as a result of the additional sales of assets to JASIF in November 2019 and the record of items in the Main Lease Agreement (80% of the OFC) in compliance with the latest Thai Financial Reporting Standard (TFRS) that caused an increase in the amount of depreciation and interest expenses, recorded in the statement of profit and loss (in comparison to the previous accounting record).

In addition, JAS announced the interim dividend payment for the first quarter of 2020 at the rate of 0.05 baht per share; the payment of which is scheduled on 5 June 2020, and the ex-dividend date is on 21 May 2020.