On August 28, 2020. Pranda Jewelry Public Company Limited, leading by Mr. Chanat Sorakraikitikul, Chairman of Finance & Risk Management Committee along with Mr. Dusit Chongsutthanamanee, Finance & Risk Management Committee, presented information and data at ‘Opportunity Day’ event. The purpose of the presentation were; to present the financial results for the second quarter of 2020, to predict the overall performance of Pranda Group, to analyze the impact on business operations and to recover the business from Covid-19. The company expects margins to return to profitability in the fourth quarter of 2020. Due to the first half of the year, the loss was 153.99 million baht. In the second half of the year, the utilization of the company’s production capacity will increase at least 80% due to continuously receiving orders from both existing and new customers. It was because manufacturers in India were unable to deliver their products as a result of the COVID-19 epidemic.
In addition, the company has used a new product launch strategy continuously which is expected to help increase sales in the second half of the year. Especially in the domestic market which has recovered after the government loosened lockdown measures.
However, the company accepts that the income this year will decrease compared to the previous year, which the income was 2,984.76 million baht. But it did not decrease as much as expected, forecasting that it will decrease by 20-25%. Because the company is able to attract new customers and existing customers have recovered relatively well, especially in the EU and the US. The company expects turnover to continue recovering from Q3/2020 to Q4/2020. This VDO Conference meeting was held at Pranda Jewelry Public Company Limited.