Sri Trang Agro-Industry Public Co. booked a net profit attributable to shareholders of 1.54 billion baht for the six months ended Jun 30, 2026, swinging from a 98 million-baht loss a year earlier as lower raw-material costs widened margins in its core natural-rubber operations despite a double-digit decline in sales.

Earnings per share came in at 1.00 baht versus a 0.06-baht loss a year ago. The board has declared an interim dividend of 0.50 baht per share, payable in the third quarter, matching the full-year 2025 payout approved in April.

Group revenue slipped 11.3 percent year-on-year (YoY) to 57.85 billion baht. Gross profit nevertheless grew 39 percent to 6.28 billion baht, lifting the gross margin to about 10.9 percent from 6.9 percent a year earlier.

By segment, natural rubber remained the main earnings driver, delivering 2.01 billion baht in pre-tax profit, up sharply from 247 million baht a year ago as inventory write-backs and favorable pricing boosted results. The glove division contributed 1.23 billion baht, more than double the 577 million baht recorded in the prior-year period. The “Others” segment, which includes services and investment activities, added 249 million baht. Intra-group eliminations reduced the consolidated pre-tax total by 1.18 billion baht, leaving group pre-tax earnings at 2.30 billion baht, compared with 23 million baht in H1 2025.

Operating highlights included a 2.43-billion-baht YoY drop in selling and distribution expenses and a 338-million-baht positive swing in foreign-exchange gains, partly offsetting a 243-million-baht rise in finance costs linked to hedging losses and higher interest. Inventory write-downs reversed by 189 million baht, reflecting firmer rubber prices.

Challenges persisted on the top line: sales of natural rubber products declined to 46.24 billion baht from 52.71 billion baht, while glove revenue eased to 11.58 billion baht from 12.49 billion baht amid softer global demand and pricing pressure. Finance costs remained elevated at 611.7 million baht, though short-term bank debt was cut by 6.74 billion baht during the period.

During the half, Sri Trang raised 1.62 billion baht in new long-term bank loans, redeemed 1.8 billion baht of debentures and reduced inventories by 6.44 billion baht. The group also realized 3.95 billion baht from divesting stakes in overseas listed equities, booking a 2.33-billion-baht gain in other comprehensive income. Subsidiary Sri Trang Gloves (Thailand) repurchased 104.2 million of its own shares for 858.7 million baht under two buyback programs.

Management did not provide specific financial targets, but the company is pressing ahead with balance-sheet deleveraging, portfolio realignment and capacity optimisation to navigate volatile commodity prices.