Selic Corp PCL broke a new record for the highest revenue and profit in its corporate history with net profit of 85.91 million baht, a turnaround growth despite the 10.93 MB loss of the previous year and total revenue of 1,397 million baht, a 133.1% growth from the year before. “Mr. Ek Suwatthanaphim”, Chief Executive Officer, and “Ms. Yuwadee Aiamsontisup”, Managing Director, imparted that the financial performance of 2019 was as expected regarding the strategic plans after the growth of two segments, namely industrial adhesive and sticker business units.
Mr. Ek Suwatthanaphim unveiled that thebusiness performance of 2019 was flourishing, breaking the record of thehighest earnings in the corporate history notwithstanding economic slowdown andhighly competitive market situation. The company reported its 2019’s revenue at1,397.79 MB — a 133.1% increase compared to the previousyear. Breaking down the revenue from the 2 business segments, the industrialadhesives business generated 723.73 MB, a 20.7% increasefrom the previous year, while the sticker and label business attained 812.84 MB, a 2.2% increase from the previous year. The growth ofboth businesses resulted in the net income of 85.81 MB.
This culmination was the result of anoverarching synergy conducted by the Group in 2019, encompassing operationalpolicies, accounting standard, and alignment of revenue recognition. It was oneof the key strategies that invigorated the Group to potentially uplift itsrevenue and profits, leading to the tangible growth in 2019. For this year, thecompany is also confident of a promising prospect of the same success.
"The corporate performance of 2019 was as expected as we executed throughour business strategies. The turnaround of 2019 led to this increase from theacquisition of PMC as well as the sales growth accomplished by both businesssegments, particularly the revenue growth from the industrial adhesive businessand its profitability resulting in the 2019 performance.” stated Mr.Suwatthanaphim.
Ms. Yuwadee Aiamsontisup, ManagingDirector, added that the company’s enhanced profit-earning capacities mirroredthe company’s success in implementing production cost and expendituremanagement in a more efficient manner last year in comparison to the yearbefore.
Selic’s revenue structure of 2019 consistedof sales from the industrial adhesives business at the proportion of 44.2%, andsales from the sticker business at the proportion of 55.8%, which were asanticipated.
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