Kang Yong Electric Public Company Limited Reports Equity Method and Company Earnings Results for the Second Quarter and Six Months Ended September 30, 2014
November 07, 2014 at 12:02 pm EST
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Kang Yong Electric Public Company Limited reported equity method and company earnings results for the second quarter and six months ended September 30, 2014. For the quarter, on equity method basis, the company reported net profit of THB 331,160,000 or THB 15.05 per share compared to THB 174,642,000 or THB 7.94 per share a year ago. The company recorded revenues from sales of goods and rendering of services of THB 2,294.8 million, up by THB 185.9 million or 8.8% due to growth of 21.5% in exports to Japan as driven by popularity of the 2-door and 3-door Mitsubishi refrigerators in Japanese market. The company posted a pre-tax profit of THB 353.4 million, representing 15.4% of revenues from sales of goods and rendering of services.
For the six months, on equity method basis, the company reported net profit of THB 468,305,000 or THB 21.29 per share compared to THB 339,174,000 or THB 15.42 per share a year ago. Revenues from sales of goods and rendering of services increased by THB 121.0 million or 2.6% to THB 4,729.7 million, contributed by growth of 9.8% in exports to Japan with a drop of 9.2% in other export markets. The company posted a pre-tax profit of THB 524.6 million, representing 11.1% of revenues from sales of goods and rendering of services.
For the quarter, on company basis, the company reported net profit of THB 331,278,000 or THB 15.06 per share compared to THB 175,037,000 or THB 7.96 per share a year ago.
For the six months, on company basis, the company reported net profit of THB 467,727,000 or THB 21.26 per share compared to THB 339,256,000 or THB 15.42 per share a year ago.
Kang Yong Electric Public Company Limited is a Thailand-based company. The principal activities of the Company are manufacturing and distributing household electrical appliances under the Mitsubishi trademark. The Company is a manufacturer and distributor of Mitsubishi Electric home electrical appliances, such as refrigerators, electric fans, ventilating fans, water pumps under the license and production technology provided by its joint venture partner, Mitsubishi Electric Corporation, Japan. The Company operates through three segments: Sale of goods and rendering of services in Thailand, Sale of goods in Japan, and Sale of goods in other countries. The Company manufactures electrical home appliances both in domestic market and overseas. In the domestic market, the Company distributes its products through Mitsubishi Electric Kang Yong Wattana Co., Ltd., its sole distributor. It has market and sale distributors internationally in approximately 20 countries.
Kang Yong Electric Public Company Limited Reports Equity Method and Company Earnings Results for the Second Quarter and Six Months Ended September 30, 2014