GFPT’s Earnings Down 18% in 2Q21 from Higher Cost of Sales
GFPT's 2Q21 earnings down 18% to 181.82 million baht on the back of higher cost of sales from higher raw material price of feed production.
GFPT Public Company Limited (GFPT) has announced its 2Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
The consolidated net profit in 2Q2021 of GFPT was THB 181.82 million, decreased by THB 41.14 million or 18.45% down from THB 222.96 million in 2Q2020. The EPS of 2Q2021 was THB 0.15 per share. The decrease in consolidated net profit was primarily driven from higher cost of sales from higher raw material price of feed production compared to 2Q2020. The consolidated net profit margin in 2Q2021 was 4.91% of revenue from sales, decreased from 6.71% in 2Q2020.
Total revenue from sales for 2Q2021 were THB 3,706.11 million, increased by THB 385.05 million or 11.59% up from 2Q2020, mostly from higher revenue from food business which increased by THB 485.61 million or 32.02% up comparing to 2Q2020 primarily from higher revenue from indirect export of chicken meat.
The consolidated net profit for 6M2021 was THB 242.43 million, decreased by THB 305.18 million or 55.73% down as compared to 6M2020 mainly from higher cost of sales from higher raw material price of feed production.