Bangkok--10 May--Core & Peak
Mr. Kamol Juntima, Chairman of the Board, IT CITY Public Company Limited reported the year 2007’s first quarter company’s performance that the company’s total revenue was 1,281.85 million Baht with the growth of 6.84% and the net profit of 29.62 million Baht with the negative growth of 19.74% comparing to the same period of the year 2006.
The Key reasons for the negative profit growth of company are:-
1. The growth of company’s total revenue was not reached the target even though there were 7 new branches opened in the second half of the year 2006 because of the slow down of overall economic in the first quarter of the year 2007 which will be continued through the second quarter.
2. As the 7 new branches opened in the second half of the year 2006, it raised the company’s expenses in the first quarter of the year 2007 up about 16% comparing to the same period of the year 2006 and this effect will continue to the second quarter of this year.
The overall of business operation as well as the competitive capability of company is still in the satisfactory level. Today, IT CITY has received the direct support from both domestic and foreign suppliers, we are the comprehensive center for IT products, abreast of the time and focus on the IT retail business that we are specialist which will make us reach the economy of scale and be able to provide the quality to serve both consumer and SMEs customers that require the IT products to increase their business and learning ability.
The company will retain its policy to expand the new branches in the second half of the year 2007, from the existing 30 branches now, in both Bangkok and upcountries. Moreover, we will control the company’s expenditure appropriately to the economic situation and the company’s revenue capability.
For more information please contact:
Bussakorn Sonthikorn
Public Relations Consultant
Core & Peak Co.,Ltd. Tel. 0-2439-4600 ext. 8202