Sri Trang Agro-Industry Public Company Limited (SET: STA) has announced its 2023 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Year | 2023 | 2022 |
| Net Profit (Loss) Million Baht |
-434.37 | 4,794.87 |
| Earning Per Share (Baht) |
-0.2800 | 3.1200 |
STA reported a net loss of THB 434 million in 2023, a contrast to THB 4,794 million of net profit in 2022.
Total revenue from products and services in FY2023 amounted to THB 84,244.9 million, decreasing 23.9% from FY2022 because of the lower ASP of NR and gloves.
Revenue from NR in FY2023 totaled at THB 65,008.1 million, decreased 25.8% from FY2022. Meanwhile, Revenue from gloves in FY202 totaled THB 19,034.7 million, decreased 16.9% from FY2022 because of the ASP that dropped 24.3% amid the ongoing oversupply. Sales volume, on the other hand, increased 8.9%.
Gross profit in FY2023 totaled THB 8,162.9 million, down 48.4% from FY2022, with a gross profit margin of 9.7%, down from 14.3% in FY2022. The decrease in gross profit can be attributable to the weakened performance of the NR and gloves businesses. The NR business in FY2023 bore the brunt of El Niño, which caused a reduction in NR supply that led to the difficulty in sourcing raw materials. At the same time, we had to contend with a slowdown in demand amid high levels of inventory of tire producers, putting pressure on selling prices. The glove business in FY2023 still had to contend with the ongoing oversupply that led to intense competition and put considerable pressure on selling prices, despite some signs of a gradual recovery in demand.
In addition, the Board of Directors approved a dividend payment of THB1.00 per share to be paid on 8 May 2024. The ex-dividend date is 18 April 2024.
