North East Rubber Public Company Limited (SET: NER) has announced its 1Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Year | 1Q24 | 1Q23 |
| Net Profit (Loss) Million Baht |
453.62 | 314.38 |
| Earning Per Share (Baht) |
0.2450 | 0.1700 |
| % Change | 44.29 | |
NER reported a net profit of 453 million baht in 1Q24, increased 44.29% from the same period of last year.
Operating results for the 1st quarter of 2024 for the 3-month period ending March 31, 2024, compared to the same period of the previous year, had a sales volume of 114,619 tons, a decrease of 12,955 tons or a decrease of 10.15 percent, representing a total sales income of 6,541.85. million baht, an increase of 285.45 million baht or an increase of 4.60 percent, divided into income from domestic sales of 4,869.56 million baht or 74.44 percent of total sales, an increase of 951.48 million baht or an increase of 24.28 percent, and income From foreign sales, 1,672.29 million baht, or 25.56 percent of total sales, decreased by 664.03 million baht, or 28.42 percent.
Sales income for the 1st quarter of 2024 increased by 285.45 million baht compared to the same period of the previous year. This is due to the situation of increasing rubber prices. The average selling price of rubber products increased by 16.45 percent. The increased income was divided into an increase in price difference of 924.02 million baht and divided into a decrease in volume difference. At 634.94 million baht.
In the 1st quarter of 2024, the company had a cost of sales of 5,780.41 million baht or 88.36 percent of sales revenue. Divided into the cost of raw materials and consumables, they amounted to 5,596.93 million baht, accounting for 85.56 percent of sales revenue. Compared to the same period last year, costs decreased by 1.87 percent. The main factor that caused the company’s raw material costs to decrease was the increase in average selling prices. Meanwhile, the average raw material cost did not increase in line with the higher purchase price. This is because the company recognizes the value of inventories using the weighted average method. (Weighted-average Method) for the Company’s average rubber purchasing price and natural rubber selling price.
