CPALL’s 2020 Profit Plunges 28% after Taking a Hit from Weak Economy during Covid-19

CP All Public Company Limited (CPALL) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;

In 2020, CPALL reported a decrease in net profit of 6,241 million baht or 27.93%, declining from 22,343 million baht in 2019 to 16,102 million baht in 2020. The decrease was mainly due to an effect of weak economic factors, resulting from COVID-19 pandemic.

 

In 2020, CPALL’s total revenues were 546,590 million baht, decreased 4.3% from last year. Sales revenue and services income were 525,884 million baht, decreased 4.5% from last year. Convenience store business was significantly affected from economic negative factors and lower consumer purchasing power, as well as the impact of COVID-19 control measures.

 

In 2020, CPALL has opened 720 new stores. At the end of 2020, CPALL operated 12,432 stores nationwide, which can be broken down into 5,685 corporate stores (46 percent of total stores), an increase of 470 stores, 5,919 SBP stores (47 percent of total stores), an increase of 232 stores, and 828 sub-area stores (7 percent of total stores) an increase of 18 stores.