Siam Global House Public Company Limited (SET: GLOBAL) has announced 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss)
Million Baht |
360.79 | 527.30 |
| Earning Per Share
(Baht) |
0.0200 | 0.0100 |
| % Change | -31.58 | |
| 9 Months | 2024 | 2023 |
| Net Profit (Loss)
Million Baht |
1,848.52 | 2,118.61 |
| Earning Per Share (Baht) | 0.0500 | 0.0500 |
| % Change | -12.75 | |
GLOBAL reported a net profit in 3Q24 of Baht 360.79 million, a decrease of Baht 166.51 million or 31.58% compared to the same period of the previous year.
Meanwhile, the operating results for the nine months ended 30 September 2024, the company reported a net profit according to the consolidated financial statements of Baht 1,848.52 million, a decrease of Baht 270.09 million or 12.75% compared to the same period of the previous year.
The decline in net profit is largely due to consumers still being concerned about delayed economic recovery and higher living costs, resulting in lower sales. At the same time, the company is also affected by the world’s geopolitical conflicts.
Sales revenue for the third quarter of 2024 were Baht 7,181.76 million, which was a decrease of Baht 158.70 million or 2.16% compared to the same period of the previous year. For the nine months ended 30 September 2024, sales revenue totaled Baht 24,664.63 million, decreasing by Baht 112.51 million or 0.45%, compared to the same period of the previous year. This was mainly driven by a decrease in same store sales due to the economic slowdown, despite the company opening an additional 6 new branches since 30 September 2023.
Other income for the third quarter of 2024 was Baht 137.77 million, a decrease of Baht 35.24 million or 20.37% compared to the same period of the previous year, and for the nine-month period ended 30 September 2024 was Baht 556.85 million, increasing by Baht 33.41 million or 6.38% compared to the same period of the previous year, as a result of increased service revenue and promotional revenue in the first and the second quarters.
Meanwhile, distribution costs and administrative expenses (excluding depreciation, unrealized loss on exchange rate, and unrealized gain (loss) on debenture investment) for the third quarter of 2024 was Baht 1,174.92 million, an increase of Baht 91.49 million or 8.44%, compared to the same period of the previous year, representing 16.36% of total sales.
