JMT Network Services Public Company Limited (SET: JMT) has announced its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Yearly | 2021 | 2020 |
| Net Profit (Loss) Million Baht |
1,400.37 | 1,047.04 |
| Earning Per Share THB | 1.29 | 1.15 |
| % Change | 33.75 | |
JMT reported a net profit of 1,400.4 million baht, increased by 34% from 2020, reaching a new record for the highest net profit since the start of operations.
In terms of operations, in 2021 for the non-performing debt management business the company can buy non-performing debt with an investment budget of 8,516 million baht. The company purchases both secured and unsecured non-performing debt with investments. There is no collateral that the company considers when purchasing non-performing debt. It is critical to consider the return on investment in non-performing debt. To provide returns for shareholders, it is the country’s leading unsecured private debt manager.
The company’s total revenue in 2021 was 3,625.0 million baht, an increase of 13.6%. Interest and dividend revenue, as well as profit on loans from receivables purchases, totaling 3,130.2 million baht, up 500.8 million baht or 19 percent from 2020. This was due to the efficiency of debt collection and the quality of the non-performing debt that the company acquired during the past year. Interest and dividend income and gains on loans from purchases of receivables accounted for 86.3 percent of the total income. This was due to the expansion of investment in non-performing debt purchases, resulting in a significant increase in the proportion of income from debt purchases for management.
Income from contracts with customers (income in the debt collection industry) was 300.6 million baht in 2021, a decrease of 61.5 million baht or 17 percent from the previous year, with revenue from debt collection services accounting for 8.3 percent of total revenue, which is similar to last year.
In 2021, underwriting income was 194.2 million baht, a slight decrease from the previous year due to underwriting control focusing on the company’s performance.
In 2021, the company’s administrative costs combined with expected credit loss were 663 million baht, a slight increase of 3%. An increase in administrative expenses was due to an increase in computer and software systems.
In addition, the Board of Directors approved a dividend payment of THB0.42 per share to be paid on 5 May 2022. The ex-dividend date is 19 April 2022.
