Bangkok--Nov 1--Core & Peak
Mr. Kamol Juntima, Chairman of the Board, IT CITY Public Company Limited reported the company’s performance for the first 9 months of the year 2004 that the company’s total revenue was 2,789.20 million Baht with the growth of 47.97% and the net profit of 92.20 million Baht with the growth of 69.10% comparing to the same period of the year 2003.
For the third quarter of the year 2004, the company’s total revenue was 1,075.21 million Baht with the growth of 38.39% and the net profit of 40.76 million Baht with the growth of 55.13% comparing to the same period of the year 2003.
The key reasons for the continuous growth of IT CITY are: 1. The IT consumer market is growing continuously and IT CITY is well accepted by this segment. 2. The growth in revenue resulted from the new and the existing branches. 3. IT CITY has now become the Thailand largest and abreast of the time one stop shopping IT center. 4. IT CITY has get more direct support from both domestic and foreign suppliers. 5. IT CITY concentration is on the IT retail business which we are expert, therefore, it will help us not only provide the high quality products & service but also reach the Economy of Scale.
IT CITY sees the trend of overall Thai’s IT market for the year 2004 is increasing continuously. IT CITY is planning to increase its selling and services area this year both Bangkok and upcountries to reach more customers. In the third quarter, we have opened another 3 new branches i.e, IT CITY — Pantip Plaza, Chiangmai, IT CITY — Future Park, Bangkae, and IT CITY — Jusco, Rachada. Moreover, we have expanded the selling area of our existing branch; IT CITY — Zeer, Rangsit from 1,100 square metres to 4,140 square metres. From these reasons, it makes IT CITY recently has the total of 20 branches and the increasing of selling area by 5,000 over square metres comparing to the same period of the year 2003.
From the said factors, it will make IT CITY retain its leadership in IT retail business in Thailand and retain its business growth in the year 2004. End.