TKN Records Lower Profit in 2020 at ฿242Mn after Taking a Hit from Covid-19 Outbreak

Taokaenoi Food & Marketing Public Company Limited (TKN) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;

TKN reported a net profit of 242 million baht in 2020, decreased 33% from a net profit of 366 million baht in 2019. The decrease was mainly due to its lower revenue, caused by the coronavirus outbreak in 2020.

The company had revenue for 2020 in a total of 3,983.1 million baht decreased by 24.4% compared to the previous year, due to the fact that the company was affected by the Covid-19 pandemic, particularly in tourists’ market, which accounted for more than one-fourth of domestic sales, and the closure of department stores or lockdown measures in several countries, such as, Thailand, Indonesia, China and the United States of America.