Sri Trang Agro-Industry Public Company Limited (SET: STA) has announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 1Q22 | 1Q21 |
| Net Profit (Loss) Million Baht |
1,509.02 | 5,958.50 |
| Earning Per Share (Baht) |
0.98 | 3.88 |
| % Change | -74.7 | |
STA reported a net profit in 1Q22 of THB1,509 million, decreasing 74.7% YoY and 6.5% QoQ from a net profit of THB5,958 million in 1Q21, because of a drop in average selling price (ASP) of gloves. Net profit margin was 5.4%.
Total revenue from products and services in 1Q22 was THB27,999.9 million, decreasing 11.3% YoY and 1.4% QoQ. Revenue from NR products accounted for 74.7% of total revenue and rose 30.1% YoY and 3.9% QoQ to THB20,926.5 million, driven by both higher ASP and sales volume. However, STA could not fulfill all purchase orders that came in due to production capacity constraints.
Revenue from gloves accounted for 25.2% of total revenue and declined 54.4% YoY and 14.5% QoQ to THB7,049.5 million because of a drop in ASP. Revenue from other products and services came in at THB23.9 million.
STA also recorded THB49.2 million in currency exchange gains, decreasing from a THB451.97 million gain in 1Q22.
SG&A came in at THB2,386.4 million, increasing 45.9% YoY because of higher selling expenses from substantially higher freight costs and higher CESS that rose alongside export volume.
