Sri Trang Agro-Industry posts Q3 loss of 841.9 million baht amid lower rubber prices, tariff uncertainty
Revenue for the quarter is down 31.8% year on year
[SINGAPORE] Sri Trang Agro-Industry : NC2 -3.03% fell into the red with a net loss of 841.9 million baht (S$33.8 million) for the third quarter ended Sep 30, reversing from a net profit of 517.3 million baht for the corresponding period a year earlier.
This came amid lower revenue, said the Thailand-based, Singapore-listed rubber group in a bourse filing on Friday (Nov 7).
Revenue for Q3 fell 31.8 per cent year on year to 21.6 billion baht, from 31.6 billion baht previously. Sri Trang Agro-Industry said this was due to lower average selling prices of its products and weighed down by prolonged uncertainty over US tariffs.
Revenue from the group’s natural rubber business – which made up 71.8 per cent of total revenue – fell 37.7 per cent year on year to 15.5 billion baht. This was attributed mainly to lower sales volumes and average selling prices.
Sri Trang Agro-Industry said that, by geography, China remained its largest market for natural rubber, accounting for 50.7 per cent of total revenue.
This was followed by Thailand (20.4 per cent), other Asian countries (12.3 per cent), Europe (8.8 per cent), the Americas (7.5 per cent) and other markets (0.3 per cent).
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