Beauty Community Public Company Limited (BEAUTY) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;
BEAUTY made a turnaround in 4Q20 earnings to book 18.91 million baht for the quarter, improving from a net loss of 22.75 million baht in 3Q20 that plunged from the impact of the coronavirus outbreak, leading to temporary closures of the shop and lower revenue from sales.
The increase in 4Q20 was due to a slightly higher revenue at 190.83 million baht, increased 2.74%, while recording lower selling expenses for the quarter at 75.83 million baht, decreased 14.54% from 88.74 million baht in 3Q20. The decreased expenses mainly came from the adjustment of the company’s cost control on every operational process, while focusing on management and cost control according to the (Cost Saving Program), such as expenses related to advertising, promotion, fixed costs (by closing non performing branches) and employees.
Nevertheless, BEAUTY reported a net loss of 104 million baht in 2020, contrasted to a net profit of 232 million baht in 2019.