Central Plaza Hotel Public Company Limited (SET: CENTEL) has announced its 2Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2Q24 | 2Q23 |
| Net Profit (Loss) Million Baht |
167.52 | 120.63 |
| Earning Per Share (Baht) |
0.1200 | 0.0900 |
| % Change | 38.87 | |
| 6 Months | 6M24 | 6M23 |
| Net Profit (Loss) Million Baht |
922.84 | 749.71 |
| Earning Per Share (Baht) | 0.68 | 0.56 |
| % Change | 23.09 | |
CENTEL reported a net profit of 167.5 million baht in 2Q24, increased 39% from the same period of last year. The increase was mainly due to tourism booming in Thailand, Japan, Maldives and Dubai during the second quarter.
The Company achieved total revenues of 5,847 million baht, a rise of 11% YoY, with the proportion of total revenues between the hotel business and the food business being at 42%:58% (2Q23: 39%:61%).
However, there were expenses that were likely to occur only one-time such as 1) written-off Deferred Tax Assets of Centara Grand Island Resort and Spa Maldives hotel which the lease contract will expire in October 2027, resulted in an corporate tax expense of 106 million baht and 2) provision for contingent liabilities according to labour laws after netted off deferred tax of 39 million baht.
In 2Q24, the company recognized a gain from changes in the foreign exchange rates relating to foreign currency loans of 55 million baht, which rose from 38 million baht in 2Q23.
The number of international tourist arrivals in 2Q24 was a total of 8.1 million, an increase of 26% YoY mainly driven by an increase in Asian tourists with a contribution of 76% of total arrivals. Chinese reported the strongest growth of 82% compared to the same period last year or an increase of 0.8 million to 1.7 million in 2Q24 partially due to a benefit from the visa-exemption scheme. The top three tourists were from China at 21%, Malaysia at 16%, and India at 7% of total arrivals, respectively.
The total number of international tourist arrivals in 2Q24 was 9.2 million, an increase of 3.3 million or 56% YoY mainly driven by an increase in Asian tourists, particularly from China in a total number of 1.7 million, an increase of 1.3 million or approximately 2.9 times YoY. The top three arrivals contributed 58% of total arrivals, which were from South Korea at 23%, China at 19%, and Taiwan at 16% of total tourist arrivals.
