[SINGAPORE] Rubber group Sri Trang Agro-Industry posted a net profit of 688.7 million baht (S$27 million) in the first quarter ended Mar 31.
This was a reversal from the net loss of 329.7 million baht in Q1 the year before, when El Nino had a significant impact on the group’s operations, Sri Trang Agro-Industry said on Tuesday (May 13).
Revenue rose to 34.4 billion baht in Q1, 45.2 per cent higher than the 23.7 billion baht recorded in the year-ago period, on the back of higher sales of natural rubber.
For the past two to three years, the group has been implementing its expansion plans, particularly for block rubber, Sri Trang Agro-Industry said.
It said: “As a result, our production capacity increased from 2.82 million tonnes at the end of FY2021 to 3.72 million tonnes at the end of Q1 2025, achieving over 90 per cent of our targeted 4 million tonnes by 2026. We will continue to increasingly utilise more of our newly installed capacity.”
Earnings per share stood at 0.45 baht for the first three months of the year, a turnaround from the loss per share of 0.21 baht in the year-ago period.
Shares of Sri Trang Agro-Industry closed 7.3 per cent or S$0.04 higher at S$0.59 on Tuesday before the announcement.
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