CPN’s 3Q Profit Slumps 51% from Non-Recurring Items

Due to non-recurring income from the insurance claim under terrorism coverage, CPN finds its 3Q18 profit plunges by 51% to ฿2,928 million YoY.

Central Pattana Public Company Limited (CPN) has reported its 3Q18 consolidated financial statement through the Stock Exchange of Thailand as follows:

The performance of CPN in 3Q18 shows total revenue of ฿9,499 million, a decrease of 15.2% from the same period in the previous year (YoY), and net profit of ฿2,928 million, a decrease of 51.1% YoY, mainly due to the recognition of non-recurring income from the insurance claim under terrorism coverage of ฿3,500 million (for the first nine months of 2018, CPN reported total revenue of ฿27,126 million, an increase of 2.2% YoY, and net profit of ฿8,686 million, a decrease of 22.7% YoY).

When exclude the non-recurring items, CPN will have an increase in total revenue of 19.4% and an increase in net profit of 5.5%.

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