Bangkok--28 Nov--Penettrate
- Revenues exceeded B 1 billion, with IPO set in early December
Demco Public Company Limited announced a 9-month net profit of baht 86 million, from a revenue of baht 1,051 million. Company management expects to launch its IPO early December.
Ms. Praphee Puipunthavong, Chief Executive Officer of Demco Public Co., Ltd., a leading Electrical Engineering and Telecom System Provider, revealed that 76% of total revenues came from the services revenues, mainly from Electrical Engineering and Mechanical & Engineering projects; 22% from sales revenues of steel structures and remaining 2% from other revenues. Its profit jumped 56% from same period last year due to the increase of projects in private sectors while year-to-date revenues almost equaled that of its all-time high revenues last year.
“We achieved an 8% net profit ration in the first 9 months this year, compared with a 5% ratio in this period last year, which we earned baht 55 million. This resulted from an increase in sales of steel structures, an increase in project works in private sector which have higher yield and the company’s improved capability in cost management.” Ms. Praphee explained.
Mr. Pradej Kitti-itsaranon, Demco’s Managing Director revealed further that the company generated 795 million baht or 76% of total revenues from Electrical Engineering and achieved 235 million baht or 22%, from sales revenues, derived mainly from the Telecommunications steel structure.
“We will offer our 50 million IPO shares to investors and start trading in the MAI market in early December. The fund raised will be used for expanding our manufacturing capacity and improving the production efficiency. In addition, we will repay our debts and expand our working capital.”
In addition, DEMCO has a strong chance of winning some of the Electrical Engineering Projects from the three governmental Electricity Authorities, whose annual combined investment from 2006 to 2008 are estimated at baht 40 billion.
Mr. Udomsak Chakeyavanich, the Managing Director of Asia Plus Securities Plc., DEMCO’s Financial Advisor commented that Demco Plc. has again showed strong profit expansion and consistent revenues. In addition, the company has become a leader in the Electrical Engineering business which grows in accordance with the energy Sector. Therefore, we believe that the company stock will be welcomed by the investors.
Demco Public Company Limited was founded on June 1st, 1992 by a group of senior electrical engineers from the Provincial Electrical Authority and the Electricity Generating Authorities of Thailand, led by Pradej Kitti-itsaranon. With its successful 14- year experiences, the company can provide One-stop Full-scale Electrical Engineering and Telecommunications services to both large Public Electricity Operators and large private firms in Electricity, Energy and Telecommunications Industries.
For more information, please contact
Penettrate Co., Ltd. (Public Relations Consultant)
Grantarit Ketsumpan (09-138-8575)
Ploenpid Sriburin (09-160-6185)
Telephone: 02-511-2046-7 Fax: 02-938-2168 Email: [email protected]