ERW Records a Lower Net Profit by 17% to Book ฿445m in 2018, Issuing ฿0.07 Dividend

The Erawan Group Public Company Limited (ERW) has reported its yearly consolidated financial statement of 2019 through the Stock Exchange of Thailand as follows;

ERW reported a net profit in 2019 at 445 million baht, decreased by 17% from a net profit of 536 million baht in 2018. The decrease was mainly due to a record of depreciation & amortization at THB 830 million in 2019, a THB 54 million increase from 2018, this mainly came from additional depreciation of new hotels opened. Moreover, in 2019 the company recorded provision for employee benefits at THB 18 million for the provision for retirement benefits due to amending the Labor Protection Act.

In addition, the Board of Directors of ERW has approved a resolution for a dividend payment to be paid on May 22, 2020, at a value of ฿0.07/share with an ex-dividend date on March 6, 2020.