News

"NYT posts 12.84% Y-o-Y growth in Q2 profit from operation with continuous improvement expectation"

Dr. Theparak Leungsuwan; the CEO of Namyong Terminal Plc., revealed that the company had total revenue of 354.81 million Baht in the second quarter, increasing 16.80 % YoY due to the rise of 45,000 car throughputs and also the increasing number of warehouse new customers.

The total cost, apart from growing along with the increase in revenue, was expanded from the rental payment on the 2 new plots of land (106 rai) acquiring to support the terminal capacity expansion and to fulfill the demand on the warehouse spaces. However, the company was still able to have 12.84% growth in profit from operation.

The total net profit was marginally decreased by 0.95 million Baht or 1.05% due mainly to the reverted tax transaction. The company initially had loss carry forward under BoI for its berth no.3 operation and did not utilize but recorded it as deferred tax assets. However, to comply with the recent supreme court judgment regarding the difference in tax calculation approach between revenue department and the other company, the company accordingly booked tax expense of 12.59 million Baht in this quarter.

For the 6-month results, the outcome was not different from the same period last year because the impact on revenue from the slowdown of export automotive market, especially in Middle East and Australia, during the first quarter was compensated by the improvement in second quarter. In addition, the reduction in net profit was mainly from the revert transaction as aforementioned.

Nevertheless, I still trust that Thailand will export vehicles in a range of 1.25 -1.30 million cars this year. Upon the continuous IT program development to support the terminal management efficiency, the company would be able to maintain its 80% market share.