KCE’s 2Q21 Earnings Jump 7 Folds as GPM Increases Nearly 11bps to 29.04%

KCE reported an increase of net profit by 7 folds in 2Q21 as gross profit margin jumped 11bps to 29.04% amid higher product selling prices.

KCE Electronics Public Company Limited (KCE) has announced its 2Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

KCE reported a net profit of 617 million baht in 2Q21, increased 765% from a net profit of 71.35 million baht in 2Q20. The increase in net profit was mainly due to its low profit base in 2Q20

Consolidated sales revenue in 2Q21 amounted to 3,536.1 million baht, representing an increase 66.21% YoY. Meanwhile, gross profit margin rose from 18.17% in 2Q20 to 29.04% in 2Q21.

The increase in sales was mainly from an increase in product selling prices that took effect in May 2021 to cover a continual rise in the price of copper since the previous quarter.

Moreover, the weakened THB against the US dollar in the period resulted in a gain in revenue recognition in Thai Baht terms of 3 million baht YoY.


In addition, the Board of Directors approved a dividend payment of Bt0.60 per share to be paid on September 8, 2021. The ex-dividend date is August 23, 2021.

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