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Sri Trang swings back to profitability; posts 3Q earnings of $6.8 mil

Samantha Chiew
Samantha Chiew11/10/2017 6:59 PM GMT+08  • 2 min read
Sri Trang swings back to profitability; posts 3Q earnings of $6.8 mil
SINGAPORE (Nov 10): Sri Trang Agro-Industry announced that it has swung back to profitability in 3Q17, posting earnings of THB166.7 million ($6.8 million) compared to a loss of THB90.8 million in 3Q16.
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SINGAPORE (Nov 10): Sri Trang Agro-Industry announced that it has swung back to profitability in 3Q17, posting earnings of THB166.7 million ($6.8 million) compared to a loss of THB90.8 million in 3Q16.

The group’s revenue decreased 5.6% to THB18.2 billion from THB19.3 billion in the same period last year, mainly impacted by a 20.0% decline in sales volume of natural rubber (NR), despite offering by 9.6% increase in average selling price (ASP).

The decline in total NR sales volume was due to the appreciation of THB relative to other currencies of NR producing countries. The decrease in sales volume was mainly resulted from a decline in sales to China and Singapore due to the negative sentiments of NR price movement rather than demand-supply fundamentals

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