GLOBAL’s 2020 Earnings Drops 7%, Offering both Stock and Cash Dividend

GLOBAL’s 2020 Earnings Drops 7%, Offering both Stock and Cash Dividend

Siam Global House Public Company Limited (GLOBAL) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;

GLOBAL’s net profit for the year 2020 was Baht 1,975.52 million that decreased by Baht 138.56 million or 6.55% compared with the year 2019. This was caused by the sharp economic contraction due to the COVID-19 outbreak, and compared with the sales amount is equal 7.37%.

 

Total revenues for the year 2020 were Baht 27,353.89 million that decrease from the year 2019 of Baht 1,270.53 million or 4.44% which comprise of 1) sales revenue was Baht 26,802.96 million, decrease of Baht 1,278.49 million or 4.55%. It was from temporary closing stores to comply with the lockdown measures of the government between 22 March – 16 May 2020 and the recurrence of the outbreak in December, the Company has to close more stores in the area of Samut Sakhon province, Samut Songkhram and Rayong total 3 stores between 21-31 December 2020. Although the Company has focused on selling via online channels.

2) Other revenues were Baht 550.92 million, an increase of Baht 7.95 million or 1.46%. It was from the Company that received compensation from the fire case of Lamphun branch at the end of 2019 the amount of baht 24.57 million.

 

Total liabilities were Baht 18,806.46 million which decreased by Baht 1,049.01 million or 5.28% from 31 December 2019. The liabilities mainly came from short term loans from financial institution Baht 11,192.93 million, trade account payable Baht 2,988.14 million, long term loans Baht 1,802.77 million , debenture Baht 500.00 million. Total shareholders’ equity were Baht 17,213.84 million increase of Baht 1,082.92 million or 6.71% from 31 December 2019. 

 

In addition, the Board of Directors has resolved the resolution for a dividend payment of 1) a common stock dividend at the rate of 22:1 and 2) a cash dividend of 0.1850505050 baht per share to be paid on May 7, 2021. The ex-dividend date will be on February 24, 2021.

 

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