Bangkok, Bangkok Aviation Fuel Services Public Company Limited (BAFS) announced the BAFS Group's operating results for the second quarter of 2024, with total revenue of 830.6 million baht and net profit of 43.4 million baht, a 295% increase compared to the same period last year, from the top performance of the Aviation business group, pushing revenue to meet targets, in line with the recovery of Thai tourism, confident that the second half of the year will continue to grow, approving the payment of an interim dividend of 0.10 baht/share on 3 September. ML Natthasit Diskul, Chief Executive Officer of Bangkok Aviation Fuel Services Public Company Limited (BAFS), revealed that the operations of BAFS Group in Q2/2024 continued to grow and generate profits continuously from Q1/2024 with total revenue of 830.6 million baht, with EBITDA increasing by 12% from the same period of the previous year at 398.5 million baht, mainly from the Aviation Group business. The overall gross profit expanded in line with the volume of aviation fuel that continued to increase significantly from air travel by all tourist groups. In addition, the factor of net financial costs decreasing by 1% from the Group's consistent loan repayments resulted in a net profit attributable to shareholders of the Company in Q2/2024 of 43.4 million baht, an increase of 295%, and a net profit margin of 4%. The revenue structure of the group in Q2/2024 BAFS Group shows financial stability in line with the strategy to expand investment through operations in 3 core business groups, with revenue before inter-company transactions from the Aviation Group of 664.9 million baht, the Power Group of 70.2 million baht, and the Utilities Group of 108.4 million baht, which is revenue from ground oil transportation and oil storage services of BAFS Pipeline Transport Co., Ltd. (BPT), which grew by 27% in line with the total oil transportation volume of all products in the Northern Oil Pipeline Transportation System (NFPT) project. BPT will start the construction of the Sar aburi-Angthong Oil Pipeline Transportation System within 2024. Recently, BAFS paid an additional capital of 470 million baht, resulting in BAFS's shareholding increasing from 71.39% to 74.46%. For the first half of the year, BAFS Group had a total revenue of 1,696 million baht, a net profit attributable to shareholders of the company of 126.3 million baht, an increase of 102% from the same period last year, while total operating expenses increased in a proportion less than the rate of increase in revenue, resulting in a 39% increase in operating profit, reflecting the effective management of operating costs and expenses. In addition, the Board of Directors' meeting on August 7 considered approving the interim dividend payment for the first half of the year (January-June 2024) at the rate of THB 0.10 per share, an increase of 25% from the previous round. The list of shareholders entitled to receive the dividend will be determined on August 21, 2024, and the dividend payment date will be September 3, 2024, re flecting the stability and sustainable growth of the business. Source : Thai News Agency