Bangkok--11 Nov--Penettrate PR
- Expect 40% Annual growth fuelled by overseas projects
- Set up Subsidiaries in Malaysia and Myanmar by 2012
Toyo-Thai Corp. (TTCL) today reports its Net Profit Increase of 18% to 266 million baht for the 9-month period and plans to set up Toyo-Thai Malaysia and Toyo-Thai Myanmar by next year.
Khun Kobchai Thanasukarn, General Manager— Finance and Investor Relations of Toyo-Thai Corporation Plc (TTCL) reveals that the company has achieved a 30% revenue growth equaling 5,249 million baht for the 9-month period, and a Net Profit growth of 18% equaling 266 million baht.
“For the 9-month period ending 30 September 2011, TTCL has total revenue of 5,249 million baht, a 30% Jump from revenues of 4,023 million baht in the same period last year. The Gross Profit also jumps 13% to 701 million baht, from 621 million baht in same period last year. Also, our Net Profit increases 18% from the same period to 266 million baht; achieving an increase in annualized Earnings per Share (EPS) to 0.72 baht per share. The company manages to maintain its Net Margin at 5.06% and delivers a highly consistent Return on Equity (ROE) of 23.24% with a strong financial condition and a high cash on hand of 1,832 million baht.
Khun Suratana Trinratana, Vice President — Sales & Project adds that “TTCL is continuously expanding our business overseas, especially in the South East Asia region. Recently, TTCL’s Board of Directors has approved the plan to set up its subsidiaries in Malaysia and will also set up another one in Myanmar; both within early 2012. Moreover, the company is in the bidding process for many large domestic and overseas projects with combined value of 50,000 million baht. Currently, TTCL has a strong backlog of around 20,000 million baht.
“The flood situation in Thailand has only little effect on TTCL’s projects because most of our projects are either in overseas countries or in Eastern Part of Thailand which has no flood crisis. Only the Navanakorn Electric (NNE) project was located in the flood area. However, we have managed to transfer most equipment to safe areas, 2 weeks before the flood arrived. In addition, we also are protected by the All-Risk insurances policy. Moreover, the NNE project has been constructed ahead of schedule for 2 months, so the project will not be delayed.
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 continuously achieved Net profits for over 26 years. The company’s track records cover over 190 projects, 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.