Thai Rubber Latex Group Public Company Limited (TRUBB) has reported its 2Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;
TRUBB reported the financial statements for 2nd quarter of 2020, TRUBB’s loss was 55.50 million baht. For the financial statements for the 6-month period of 2020, it had a net profit of 18.81 million baht.
The loss in 2Q20 was mainly because of the low-season period of rubber industry which rubber trees produced less quantities, the effect from trade war between the US and China causing economic depression, and the unstable rubber market, affecting the fluctuation of field latex price and the company efficiently controlled cost of raw material even though there is the outbreak of COVID-19.
For the 6-month period of 2020, TRUBB had sales and service income 2,947.51 million baht compared to the same period last year which was 3,739.87 million bagt, the decrease of 21.19%. The effect from the outbreak of COVID-19 and trade war were causing the world demand for rubber lower and the fluctuation of field latex price resulting in the company’s income lower.