CRC Expects 10% Sales Growth in 2021, Offering a Div. at Bt0.40 with an XD on April 29

Central Retail Corporation Public Company Limited (CRC) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;

In 2020, CRC recorded a net profit of 46 million baht, decreased 99.56% from a net profit of 10,633 million baht in 2019. The decrease was mainly due to a decline in revenue and an insurance compensation of 3,283 million baht, recorded in 2019.

 

CRC reported total revenue of 194,311 million baht in 2020, decreased 12.8% YoY due to the inevitably impact of the Covid-19 pandemic to the company’s business along with the government’s measure enforced for temporary closure of department stores in Fashion and Hardline segments, while Food segment were impacted by limited operating hours in March till May. In addition, the TRFS9 and TFRS16 was adopted in 2020, which impacted CRC’s net profit to the decline of 1,298 million baht.

 

However, the company started to recover in 4Q20 with a total revenue of 51,077 million baht, increased 7% QoQ, while recording a net profit of 1,102 million baht, increased 27% QoQ. Meanwhile, sales through omnichannel, which is nearly 10% of CRC’s total sales, saw a growth of 180%. The company stated that it has high confidence of a 10% sales growth in 2021.

 

In addition, the Board of Directors of CRC resolved a resolution to pay a dividend payment of ฿0.40/share to be paid on May 21, 2021. The ex-dividend date is April 29, 2021.