CPN’s 3Q19 Profit Slips Near 4% to Record at ฿2.8bn from Higher Financial Cost

Central Pattana Public Company Limited (CPN) has reported its 3Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

The performance of CPN in 3Q19 shows total revenue of THB 9,413 mn, an increase of 2.1% and net profit stood at THB 2,816 mn, a decrease of 3.8% from the same period in the previous year (YoY). The increase in revenue was mainly from solid revenue growth, well-controlled expenditures, and higher share of profit from joint ventures and associated companies.

Meanwhile, the loss in profit were from incurring higher financing cost from additional interest-bearing debt following the acquisition of GLAND in September 2018 and new loan for business expansion to generate new revenue stream. CPN continues to exercise effective cost management and according to the changing business environment.