Bangkok--11 Aug--Penettrate
- Approve 18-Satang Dividend per share after Net margin jumps 20%
- Confirm 40% Annual Growth with large Bids over 70,000 Million Baht
Toyo-Thai (TTCL) confirms a 40% Growth this year after recording a 32% Net profit growth to 190 million baht for first 6 month. Net Margin also jumps over 20%, prompting an interim 18-satang dividend next month.
Mr, Hironobu Iriya, President and CEO of TTCL or Toyo-Thai Corporation Plc., a sole EPC Construction leader in Thailand, reveals that the Company has revenue of 3,424 million baht for the first 6-month period, up from 3,128 million baht in same period last year. For the 2nd quarter, the company has revenue of 1,648 million baht, up 26% from the revenue of 1,307 million baht in 2nd quarter last year.
“Toyo-Thai is pleased to continuously grow our business performances. For the 1st 6-month period this year, our Net Profit jumps 32% to 190 million baht, from 144 million baht in same period last year. For 2nd quarter period, our Net Profit also jumps 32% to 82 million baht, from 62 million baht in same period last year. While our Operating Profit grows 21% to 240 million baht from 198 million baht in same period last year, our Net Profit Margin increases 20% to 5.55% from 4.6% in same period last year.
“At the end of 2nd quarter, our Backlog increases to over 16,000 million baht after the company recently won 2 large projects worth over 11,000 million baht. They are a Rare Earth Separation Plant in Malaysia for Lynas (Malaysia) Bnhd, worth between 5,300-6,000 million baht. Latest, TTCL just won a Diammonium Phosphate Fertilizer Plant in Vietnam worth 6,000 million baht. In addition, the company is in bidding process for many large projects worth 70,000 million baht, while planning to realize about 4,000 million baht in 2nd half this year.
Khun Kobchai Thanasukarn, Deputy General Manager — Finance and Investor Relations adds for this period, our Return on Equity (RoE) reaches 23.41% (annualized), probably the highest in contractor sector. As a Cash Company with cash and short-term investment equaling 2,339 million baht with no interest-bearing debts, the company’s board of director approves an interim dividend of 0.18 baht per share to be paid on 9 September 2011, with the record book to be closed on 29 August 2011.
TTCL will use the Two-hat Strategy to expand the business. The company will not only undertake an integrated EPC construction work but also jointly-invest in the interesting projects such as NNE power plant which TTCL holds 71% of preferred shares in the company. This revenue stream will strengthen the company business result further. With the strong financial status with large cash on hand, experienced management teams and engineering teams, the company also benefits from having 3 large shareholders groups: Toyo-Engineering and Chiyoda Corporation being the 3rd and 2nd Largest EPC Contractors in Japan and Italian-Thai Development Plc., as Thailand’s Largest Contractor.
Founded in 1985, by Toyo Engineering (JAPAN), a leading Japanese EPC Contractor and Italian-Thai Development Plc., Thailand’s largest general contractor, Toyo-Thai Corporation Plc. has a registered capital of 480 million baht. Recently, Chiyoda Group, Japan’s 2nd largest EPC contractor has invested and holds 7% shares in TTCL. TTCL is the only Thai Contractor which has achieved Net profits for 25 years, consecutively. The company’s track records cover over 170 projects in 24 years, with combined project value of 60,000 million baht. Its local customers include many large listed conglomerates such as PTT Group, SCG Group, Vinythai Group, Kao Group from Japan and German’s Bayer Group. Its main markets are Vietnam, where it has an operating subsidiary, Malaysia, China, Asian Countries, Middle East Countries, Africa and USA.