Sky ICT Public Company Limited (SET: SKY) has announced its 2Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2Q24 | 2Q23 |
| Net Profit (Loss) Million Baht |
120.00 | 117.23 |
| Earning Per Share (Baht) |
0.1700 | 0.1900 |
| % Change | 2.37 | |
| 6 Months | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
238.86 | 201.12 |
| Earning Per Share (Baht) | 0.3300 | 0.3200 |
| % Change | 18.77 | |
SKY reported a net profit of 120 million baht in 2Q24, increased slightly by 2.37% from the same period of last year. Meanwhile, total revenue for the second quarter was 1,625.11 million baht, increasing of 682.83 million baht or 72.47% compared to the same period of prior year due to the revenue from Siam Administrative Management and Security Guards Co., Ltd (SAMCO) which was acquired by subsidiary in portion 100%.
The core revenue from facilities management, cleaning and securities guard services, cash collection and delivery services, totaling revenue for the second quarter of 2024 was 407 million baht. However, the gross margin ratio of service revenue from SAMCO is not high margin. Additional selling and administrative expenses of SAMCO increased from expansion of its business leading to the profit of the company and its subsidiaries for the 3-month period ended 30th June 2024 had decreased from the same period of previous year to 1.93 million baht or 1.61%.
Revenue from System Integration Services, the amount of revenue of 370.74 million baht, representing 22.81% of total revenue, increased 148.70 million baht or 66.97% compared to the previous year. The delivered and recognized project revenues in this year were higher than previous year. Meanwhile, revenue from Services, the amount of 1,254.12 million baht, accounting for 77.17% of total revenue, an increase of 676.69 million baht or 85.33% compared to the previous year.
The overall expenses of the company for the period ended 30 th June 2024, amounted to 252.68 million baht, an increase of 68.68 million baht or 37.33% from the previous year, mainly due to the expenses of Astro solutions Co., Ltd which changing from an associate company to a subsidiary company and Siam Administrative Management and Security Guards Co., Ltd which 100% hold by Metthier Co., Ltd. while there was no such expenses in the second quarter of 2023. In addition, the company and subsidiaries’ administrative expenses in the second quarter of 2024 also increased due to SAMCO’ employee expenses and office expenses.
