Central Pattana Public Company Limited (CPN) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;
In 2020, CPN reported a net profit of 9,557 million baht, decreased 18.58% from a net profit of 11,735 million baht in 2019. The decrease was due to rental and services business being significantly affected by COVID-19 situation, resulting in a temporary closure of 34 shopping malls between 45-56 days.
CPN reported total revenue of 27,798 million baht, a decrease of 27% YoY (for 4Q20, the company reported total revenue of 8,175 million, a decrease of 24.4% YoY) mainly from a decrease of revenue from rental and services as the Company remained relief measure by waving and providing rent discount to tenants who impacted by COVID-19 during the year and the second wave outbreak in 4Q20.
Meanwhile, the company reported total costs of 15,969 million baht, a decrease of 11.7% YoY (for 4Q20, the company reported total cost of 4,484 million baht, a decrease of 9.9% YoY) mainly from effective cost reduction even though resumed all mall operations whilst other costs still lower from the year earlier, in line with a decrease in revenue.
In addition, the Board of Director of CPN approved the resolution to pay a dividend of ฿0.70/share on April 21, 2021. The ex-dividend date is March 4, 2021.