GFPT Public Company Limited (SET: GFPT) has announced its 2Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2Q24 | 2Q23 |
| Net Profit (Loss)
Million Baht |
583.08 | 348.93 |
| Earning Per Share
(Baht) |
0.4700 | 0.2800 |
| % Change | 67.11 | |
| 6 Months | 2024 | 2023 |
| Net Profit (Loss)
Million Baht |
1,049.02 | 647.10 |
| Earning Per Share (Baht) | 0.8400 | 0.5200 |
| % Change | 62.11 | |
GFPT reported a net profit in 2Q24 of THB 583.08 million or equivalent to EPS of THB 0.47 per share, increased by THB 234.16 million or 67.11% from 2Q2023 while net profit for 6M2024 was THB 1,049.02 million, increased by THB 401.93 million or 62.11% from 6M2023. The increase was due to lower feed raw material cost and higher share of profit from associated companies.
The consolidated net profit margin in 2Q2024 was 12.05% of revenue from sales, increased from 7.18% in 2Q2023 while net profit margin for 6M2024 was 11.20% of revenue from sales, increased from 6.89% for 6M2023.
GFPT Group’s total revenue from sales was THB 4,838.62 million in 2Q2024, representing a decrease of THB 19.37 million or 0.40% from 2Q2023 from lower revenue of feed business while total revenue from sales for 6M2024 was THB 9,365.45 million, decreased by THB 37.87 million or 0.40% from 6M2023 predominantly from lower revenue of farm business.
Gross profit was THB 689.33 million in 2Q2024, an increase of THB 130.10 million or 23.26% from 2Q2023 while gross profit for 6M2024 was THB 1,257.56 million, increased by THB 234.00 million or 22.86% from 6M2023 mainly from lower feed raw material cost.
EBITDA was THB 1,098.86 million in 2Q2024, increased by THB 298.80 million or 37.35% from 2Q2023 while EBITDA for 6M2024 was THB 2,028.08 million, increased by THB 517.48 million or 34.26% from 6M2023.
GFPT Group strives to be one of the leading chicken meat exporters in Thailand by operating a fully vertical integrated chicken production. The company operates in three main segments: Food, Farm, and Feed; covering feed production, grandparent farm, breeder farm, broiler farm, production and distribution of chicken meat, cooked chicken products, and other chicken-related products under customers’ and the Company’s brand name for both domestic and international markets.
GFPT’s strategy is committed to “being a leading poultry business focusing on quality and international food safety standards”. Furthermore, GFPT Group maintains its competitive advantage by concentrating on its own farm policy and cost advantage through economies of scale.
