JKN’s 2Q21 Earnings Fall 28% as Revenue Drop and Expenses Increase
JKN reported a decline by 28% in 2Q21 net profit due to a decrease in revenue, and an increase in expenses and financial costs.
JKN reported a decline by 28% in 2Q21 net profit due to a decrease in revenue, and an increase in expenses and financial costs.
10 ส.ค. 2564

JKN Global Media Public Company Limited (JKN) has announced its 2Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

JKN reported a net profit of 61.28 million baht in 2Q21, decreased 27.90% from a net profit of 84.99 million baht in the same period of last year. The decrease was mainly due to a decline in revenue during the period, while expenses and financial costs increased.
 
For the six-month period ended June 30, 2021, the company had net profits of 160.04 million baht, a decrease of 20.22 million baht or 11.22% from the same period of the previous year mainly due to financial costs for the six-month period ended June 30, 2021 increased by 21.64 million baht or 27.79% from the last year, especially from the increase in short-term and long-term loans from financial institution including the debentures issued during the period for the purpose of the acquisition of the new business.
As a result of the above reason, the net profit ratio (ROS) for the six-month period ended June 30, 2021 decreased from 19.66% to 17.77%. Moreover, the total expense to total revenue ratio increased from 11.64% to 14.75% since the higher expenses from online advertising that had started from the last year. In the past, the company focused on public relations in the form of organizing events and publishing advertising.