Tipco Asphalt Public Company Limited (SET: TASCO) has announced its 2Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2Q24 | 2Q23 |
| Net Profit (Loss)
Million Baht |
99.01 | 744.03 |
| Earning Per Share
(Baht) |
0.0600 | 0.4700 |
| % Change | -86.69 | |
| 6 Months | 2024 | 2023 |
| Net Profit (Loss)
Million Baht |
106.89 | 1,872.20 |
| Earning Per Share (Baht) | 0.0700 | 1.1900 |
| % Change | -94.29 | |
TASCO reported a net profit in 2Q24 of Baht 99 million, a decline of 86% from the same period last year and representing earnings per share of Baht 0.06 (par value of Baht 1 each), when compared to Baht 0.47 per share in the corresponding quarter of 2023.
Sales and services stood at Baht 5,016 million, reflecting a decrease of 30.40% from the same period of last year. The reduction was caused by a significant decrease in domestic Thailand sales volume stemming from the 7 months (October 2023 to April 2024) delay in the 2024 government budget disbursement. Nonetheless, sales rebounded in June after the 2024 government budget was approved in April. Meanwhile, selling prices also dropped in the quarter, which aligned with the reduction in the regional asphalt index price.
Revenue from construction contracts totalled Baht 467 million, representing a decrease of 45.07% from the same period last year. Majority of the construction revenue for this period came from the 3rd Runway and the 2nd Midfield Satellite (SAT-2) ground improvement project at the Suvarnabhumi Airport. The big drop in revenue was due to the near completion of the 3rd Runway construction project.
