COTTO Turnarounds to Book ฿168m of Net Profit in 2019 from Land Selling!

COTTO made a turnaround to book ฿168m of net profit in 2019 from land selling in Nong Khae industrial estate.

SCG Ceramics Public Company Limited (COTTO) has reported its yearly consolidated financial statement of 2019 through the Stock Exchange of Thailand as follows;

For the period of FY2019, revenue from sales amounted 11,074 million baht, dropped 4% YoY due to the decrease in sales volume and average selling price, and revenue from land selling in Nong Khae industrial estate amounted to 203 million baht in 2019 while 2018 amounted 43 million baht, whereas profit for the period registered 168 million baht, increased from a net loss of 3.58 million baht in 2018. The increase was due to (1) Declining in energy cost from last year (2) Efficiency increasing in management and operation (3) Increasing profit for the period from land selling in Nong Khae industrial estate.

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