“Toxic” Stock Caused GGC ฿1.8 Billion of Loss in 2Q18

GGC lost 1.8 billion baht in 2Q18 from raw materials derogation.

Global Green Chemicals Public Company Limited or GGC announced their consolidated financial statement through SET. GGC’s revenue were posted of 4.2 billion baht in 2Q18, decreased by 590 million baht or 12% YOY, because the products price were soft following CPO and CPKO price.

However, GGC recorded expenses from raw materials derogation amounting to 2 billion baht and tax income from deferred tax assets from such provision amounting to 84 million baht. As a result the company had net loss for 2Q18 for 1.8 billion baht.