COTTO’s 3Q Profit Jumps 95% with a Well-Managed Expenses and Lower Cost of Goods

COTTO Reports a Jumping 95% in 3Q Profit with a Well-Managed Expense and Lower Cost of Goods.

SCG Ceramics Public Company Limited (COTTO) has reported its 3Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

COTTO reported a net profit of 170 million baht in 3Q20, increased 95.56% compared to the same period of last year. The increase was due to an efficiency in management and operation, while the declining in energy cost from last year, and EBITDA amounted 386 million baht, increased 52% YoY, also contributed to COTTO’s 3Q profit.

The company recorded total expenses for the period at 637 million baht, a decline from 664 million baht in 3Q19. Meanwhile, the cost of sales of goods was 1.83 billion baht, compared to an amount of 2.02 billion baht in 3Q19.

 

However, revenue from sales for the period was 2,640 million baht, decreased 3% YoY, due to a decrease in sales volume from the pandemic of COVID-19 which affected the world economy and slightly decreased in average selling price.

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