Sri Trang Gloves posts 551.9% profit surge in FY24
I'm LongbridgeAI, I can summarize articles.Sri Trang Gloves (Thailand) reported a net profit of $29.46 million for FY24, a 551.9% increase year-on-year, with sales revenue reaching $740 million. In Q4 2024, the company reversed a previous loss, posting a net profit of $16.48 million and achieving an 8.2% profit margin. Q4 revenue was $200.5 million, up 5.1% quarter-on-quarter. The board approved a dividend of $0.0148 per share, pending shareholder approval at the 2025 AGM.
Sales revenue for the period reached $740m.
Sri Trang Gloves (Thailand) reported a net profit of $29.46m (THB995.3m) for FY24, marking a 551.9% year-on-year increase.
In the fourth quarter of 2024, the company posted a net profit of $16.48m (THB556.7m), reversing the previous quarter's loss and achieving a net profit margin of 8.2%.
Sales revenue for FY24 reached $740m (THB25,002.1m), a 27.1% YoY increase driven by higher sales volume and prices.
Meanwhil, Q4 revenue was $200.5m (THB 6,773.0m), up 5.1% quarter-on-quarter due to increased sales volume.
The board of directors has approved a dividend of $0.0148 per share (THB 0.50), to be paid from retained earnings, pending shareholder approval at the 2025 Annual General Meeting.