The share price of SCG Packaging Public Company Limited (SCGP) rose ฿2.50/share or 5.05% to ฿52.00/share as of 16:23 local time in Thailand, with a trading value of 2,549 million baht.
The price has reached its new high since entering the market in Oct 2020. The increase in share price is expected due to an excellent performance in 1Q21.
SCGP reported a net profit of 2,134 million baht in 1Q21, increased 23.24% compared to a net profit of 1,732 million baht in 1Q20. The increase in net profit was mainly due to an increase in total revenue from sales in the period which registered at 27,253 million baht, representing an increase of 12% YoY.
The total revenue from sales that increase was due to a demand growth in ASEAN customers, regional paper price improvement and the consolidation of Go-Pak UK limited (Go-Pak) – foodservice packaging solution providers in UK and Bien Hoa Packaging Joint Stock Company (SOVI) – corrugated container produce in Vietnam.
SCGP stated that it had continuously expanded its business with its experience, expertise and collaboration with partners in different countries to be the leader in packaging solutions in ASEAN.