North East Rubber Public Company Limited (SET: NER) has announced its 2Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2Q24 | 2Q23 |
| Net Profit (Loss)
Million Baht |
478.75 | 457.21 |
| Earning Per Share
(Baht) |
0.2591 | 0.2474 |
| % Change | 4.71 | |
| 6 Months | 2024 | 2023 |
| Net Profit (Loss)
Million Baht |
932.36 | 771.59 |
| Earning Per Share (Baht) | 0.5046 | 0.4176 |
| % Change | 20.84 | |
NER reported a net profit in 2Q24 of 478.75 million baht, or 8.24% of total sales revenue. Compared to the same period last year, net profit increased by 21.54 million baht, or an increase of 4.71%.
The company had a sales volume in 2Q24 of 90,451 tons, a decrease of 30.14%, representing a total sales income of 5,809.22 million baht, a decrease of or 11.41%. The number was divided into domestic sales revenue of 4,714.64 million baht, an increase of 17.99%, and income from foreign sales of 1,094.58 million baht, decreased by 57.28%.
Distribution costs were 52.74 million baht or 0.91% of total sales revenue. Compared to the same period last year, the number decreased by 67.83%. This was a decrease in the Rubber Plantation Assistance Fund fee of 68.52 million baht, transportation expenses of 45.41 million baht, with reduced distribution costs. This decline is related to decreased international sales.
Loss from foreign exchange occurred at 2.41 million baht, a decrease of 77.69% compared to the same period last year. Loss from valuation of derivative instruments was 11.14 million baht, a decrease of 72.86% compared to the same period last year.
For the first 6 months of 2024, the company had a net profit of 932.36 million baht, or a net profit margin of 7.55% of total sales revenue. Compared to the same period of the previous year, the company’s net profit increased by 160.77 million baht, or an increase of 20.84%.
Sales volume in 6M24 stood at 205,071 tons, a decrease of 20.22% compared to the same period last year, calculated into a total revenue from sales of 12,351.07 million baht, which decreased by 3.60%.
In addition, the Board of Directors approved the interim dividend payment of THB 0.05 per share to be paid on 6 September 2024. The ex-dividend date is 23 August 2024.
