STA Records 6 Folds of Earnings Increase in 1Q21 to ฿5.9Bn with an Interim Div of Bt1
STA's 1Q21 earnings grew nearly 600% to 5.9 billion baht as revenue from NR products and rubber gloves soared, while giving a Bt1.00 interim dividend.
Sri Trang Agro-Industry Public Company Limited (STA) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
STA reported a net profit of 5,958 million baht in 1Q21, increased 597.60% from a net profit of 854 million baht in 1Q20. The growth in net profit derived from the strength of its glove business and a pickup in demand in our NR operations. Gross profit margin and net profit margin rose to 42.9% and 18.9%, respectively.
In 1Q21, STA had 31,579.5 million baht in total revenue, increased 80.6% YoY.
Revenue from NR products, which accounted for 50.9% of total revenue, increased 18.0% YoY, driven by the ASP that rose 10.3% YoY alongside prices of NR and other commodities on the global markets. Sales volume also increased 7.0% YoY to 326,183 tons.
Revenue from gloves, which accounted for 49.0% of total revenue, rose 303.3% YoY to THB 15,473.7 million on the back of a robust global demand amid the vaccine rollout in many countries, with the ASP increasing by 275.4% YoY
In addition, STA announced an interim dividend payment of Bt1.00 per share to be paid on June 11, 2021. The ex-dividend date is May 25, 2021.