GLOBAL Reports a Satisfying 1Q Earnings Growth of 56% with Expansion of 6 New Stores

Siam Global House Public Company Limited (GLOBAL) announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

GLOBAL reported a net profit of 965 million baht in 1Q21, increased 56.80% compared to a net profit of 615 million baht in 1Q20, mainly due to the adjustment of operating strategic plans in accordance with the economic situation.

 

Total revenues for the first quarter of 2021 were 8,828.35 million baht that increases from the same period of 2020 by 1,393.57 million baht or 18.74%. Sales revenue was 8,678.71 million baht, an increase of 1,403.65 million baht or 19.29%. It was mainly driven by sales of same store growth and expansion of 6 new stores.

 

Distribution costs & Administrative expenses (exclude depreciation) for the first quarter of 2021 was 819.42 million baht, increased  32.49million baht or 4.13% from the same period of 2020, these expenses represented 9.44% of the sales amount. It was mainly driven by the increase of salary expenses of the new 6 stores.