At its 2024 Annual General Meeting of Shareholders (AGM), G-Able Public Company Limited, or GABLE, resolved to approve a dividend payment to shareholders at a rate of Baht 0.2890 per share on May 28, 2024, for an amount not exceeding Baht 202,306,190, following its strong 2023 performance with record sales and service revenue of Baht 5,338 billion, up 13 percent from the previous year. It also recorded a sales backlog of Baht 4.544 billion, up 16% from Q3 of 2023.
Dr. Chaiyuth Chunnahacha, CEO of G-Able Pcl., or GABLE, shared that the Company is preparing to pay dividends after its listing on the Stock Exchange of Thailand (SET), following an unprecedented sales and service revenue level of Baht 5,338 billion, up 13 percent from the previous year. Additionally, the Company achieved a gross profit of Baht 1,099 billion, marking a 10 percent increase from the previous year and accounting for a gross profit margin of 21 percent, similar to the same period last year. This success underscores GABLE's commitment to effective cost and expense control, reflecting the Company's strong determination to drive healthy business growth with sustainable return for shareholders.
At its 2024 AGM, in light of the past year's success, the Company approved a dividend payment for the year 2023 ending December 31, 2023, following the allocation of net profit for a statutory reserve, at Baht 0.2890 per share, not exceeding Baht 202,306,190. The payment was based on net profit from operations for the same period and retained earnings. The Board of Directors set May 13, 2024, as the record date for shareholders entitled to receive dividends, with payment due on May 28, 2024. This marks the first dividend payment since the Company's listing on the SET.
Ms. Raveeratana Satchavarodom, Chief Finance & Strategy Officer of G-Able Pcl., or GABLE, revealed that in 2023, the Group had a recurring income ratio of nearly half its revenues, which was consistent with the previous year. At the end of 2023, the Group posted an unprecedented backlog balance of Baht 4,544 billion, marking a 16 percent increase from Q3 of 2023, to be recognized as income in the future. Additionally, it has already accumulated a backlog for 2024 of over Baht 2,753 billion, accounting for almost half of the revenue target for 2024.
"Despite external factors and fluctuations at the macro level, along with stronger industrial competition, GABLE continued to grow further, bucking the trend, and experienced accelerated income growth across its business portfolio, including enterprise solutions, value-added distribution, and software platforms, thanks to GABLE's customers. This year, GABLE is confident that it will continue to see ongoing growth," concluded Dr. Chaiyuth.