JMT Network Services Public Company Limited (JMT) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;
JMT reported a net profit of 1,047 million baht in 2020, increased 53.67% from a net profit of 681 million baht in 2019. The net profit in 2020 was the highest net profit of the company since its inception for the fourth year.
In terms of debt collection, the cash flow amount is 3,704 million baht, a 15% growth from the previous year.This is a result of better debt collection efficiency and the potential of the debt portfolio that the company has invested in the past.
In terms of operations in 2020 for the non-performing debt management business The company can buy distressed debt equal to 32,561 million baht with an investment budget of 3,516 million baht.
The company uses investments to buy both secured and unsecured distressed debt, which the company considers selecting when buying non-performing debt. The company pays attention to the return on investment in non-performing debt. In order to generate returns for the shareholders and is the number 1 unsecured debt manager in the country.
In 2020, the company has service costs of 870.3 million baht, decreasing from the previous year by 5.1 million baht or 0.6% which is the decrease in payroll expenses due to the implementation of collection technology.
Total revenue of the company in the year 2020 was 3,190.8 million baht, increased by 26.4%. Interest and dividend income and gain on loans from buying receivables in 2020 equal to 1,726.5 million baht, increased from year 2019 equal to 432 million baht or equivalent to 33.4%.
This was a result of the collection efficiency and the quality of the non-performing debt that the company had acquired in the past year. By interest income and dividends and gains on loans from purchases of receivables accounted for 82.4percent of total income. It will be noted that the profit from loans from the purchase of receivables which is the income of the non-performing debt which has fully amortized the investment value increases. This is because the value of the debt pool has increased significantly during the years 2019-2020.
In addition, the Board of Directors of JMT approved a dividend payment of ฿0.41/share to be paid on May 5, 2021. The ex-dividend date is April 20, 2021.