Kerry Express (Thailand) Public Company Limited (SET: KEX) has announced its 2021 consolidated financial statement as follows;
| Yearly | 2021 | 2020 |
| Net Profit (Loss) Million Baht |
46.918 | 1,405.025 |
| Earning Per Share (Baht) | 0.027 | 1.111 |
| % Change | -96.66 | |
KEX reported a net profit of THB46.9 million in 2021, a decrease of 97% compared to a net profit of THB1,405 million in 2020 as cost of sales and services rose.
Cost of sales and services totaled THB17,478.5 million, rising by approximately 10.3%. Though normalized unit cost was kept in check during the year, KEX had to make short-term investment in its margins to prepare extra operating resources for service quality assurance during COVID-19 peak in the third quarter and the advent of Omicron in the fourth quarter. Such temporary incidents have layered on more costs for KEX to establish spare resources and new capacity expansion, including the preparation of headcounts, vehicles, equipment, as well as spare sorting hubs, distribution centres, and service locations nationwide.
Selling and administrative expenses (SG&A) grew 5.0% in 2021. These include share-based payment expenses resulting from ESOP Warrant scheme granted to directors, management and key staff in December 2020 which amount to THB52.7 million and THB2.0 million in 2021 and 2020 respectively.
In 2021, KEX marked the highest record of delivery volume, representing 30% YoY growth and reported revenue of THB18,817.8 million, slightly dipped by 0.5% from THB18,917.1 million in 2020.
Additionally, the Board of Directors on February 14, had a resolution to approve no further dividend payment from the 2021 performance.
