Centel revenue up 24% to B22.5bn

Centel revenue up 24% to B22.5bn

Centara Hotels & Resorts' Centara Grand Hotel Osaka officially opened last year.
Centara Hotels & Resorts' Centara Grand Hotel Osaka officially opened last year.

Central Plaza Hotel Plc (Centel), the operator of Centara Hotels and Resorts and its food business, reported 6.02 billion baht in total revenue for the fourth quarter of 2023, an increase of 9% year-on-year.

For its full year 2023, the company reported total revenue of 22.5 billion baht, an increase of 4.33 billion baht or 24% year-on-year.

Centel on Tuesday reported to the Stock Exchange of Thailand an analysis of the company's operating performance results for the fourth quarter of 2023 and for the year ending Dec 31, 2023.

It was noted that the number of international tourist arrivals in Thailand in last year's fourth quarter rose to 8.1 million, representing a growth of 49% year-on-year.

Tourist arrivals from China last year grew by around seven times year-on-year. The majority of tourist arrivals in 2023 stemmed from Asia and the Pacific, accounting for 69% of total arrivals.

The top three tourist arrivals by nationality were Malaysians (16%), Chinese (13%), with Russians, South Koreans and Indians sharing third place, each accounting for a share of roughly 6%.

The total number of inbound tourist arrivals in 2023 reached 28.2 million, up 1.5 times year-on-year.

Centel's gross profit for the final quarter last year stood at 3.27 billion baht, an increase of 8% year-on-year, representing a gross profit margin of 57% of revenue.

Net profit after an extra item of 425 million baht for the fourth quarter decreased 70 million baht or 15% year-on-year.

For its full year 2023, gross profit was 12.3 billion baht, an increase of 2.17 billion baht or 21% year-on-year, representing a gross profit margin of 57% of total revenue (excluding other income), which represented a decrease compared with 2022 due to a decrease in gross profit margin of the company's food business.

In 2023, Centel had a net profit after an extra item from the reversal of impairment on assets netted off deferred tax and depreciation of 1.25 billion baht, compared to a net profit of 398 million baht in the previous year, representing an increase of 850 million baht or 214%.

In 2023, the company recognised a gain from changes in foreign exchange rates related to foreign currency loans of 80 million baht.

As of Dec 31, 2023, the company reported total assets of 54.2 billion baht, an increase of 6.04 billion baht or 13%, compared to the year ending Dec 31, 2022.

Trade and other receivables increased by 292 million baht.

Meanwhile, cash and cash equivalents dropped by 618 million baht and other current financial assets decreased by 319 million baht, compared to the year ending Dec 31, 2022.

Total liabilities stood at 34.1 billion baht, a rise of 4.91 billion baht or 17% compared to the year ending Dec 31, 2022.

Centel had total shareholder equity of 20 billion baht, an increase of 1.13 billion baht from the year ending Dec 31, 2022, mainly resulting from an increase in its net profit in 2023 of 1.25 billion baht.

Do you like the content of this article?
COMMENT (1)