Susco reports 10% dip in sales

SET-listed Susco, a local oil trader, saw its sales volume drop by 10% during Songkran as the country dealt with a fresh outbreak of the pandemic.

Managing director Chairit Simaroj said yesterday the company hoped the dip would not echo the sales decrease during Songkran 2020, when the holiday was banned to prevent people from visiting their home provinces.

Susco reported a sales volume dive of more than 20% during Songkran last year.

Mr Chairit said he believes daily Covid-19 infection rates have not yet peaked, though he hopes the government and public health sector can manage the outbreak in April.

Health authorities yesterday reported 1,582 new Covid-19 cases over the past 24 hours, setting a record for the third consecutive day and raising the total to 39,038.

Susco is trying to maintain as much cash on hand as possible, cutting unnecessary expenses and requesting more bank loans.

Mr Chairit said the company is maintaining its capital expenditure of 500 million baht this year for business expansion by developing 20 new petrol stations, bringing total stations to 260.

Susco also plans to renovate 50 petrol stations nationwide. Last year it renovated 30 stations.

Fuel consumption in Thailand contracted by 12.5% last year because of strict state measures to prevent the spread of Covid-19, including a lockdown order, according to the Department of Energy Business.

Jet fuel consumption had the steepest decline last year with a 62.3% dip for average consumption of 7.3 million litres per day, while compressed natural gas contracted fell by 28.3% to 3,900 tonnes per day. Liquefied petroleum gas consumption contracted by 13.7% to 15,400 tonnes per day.