“Kingsmen C.M.T.I (K) Plc. Receives New Interior Project Worth 65 Million Baht at Suvarnabhumi Airport”

Mr. Wongsakorn Pisessit, Kingsmen C.M.T.I.(K) Plc. said The company is confident that this year will return to turn around. After the business strategy has been adjusted continuously since the past 65 years, the evaluation shows that the restructuring plan will gradually reflect the performance of the company. in a better direction because the company Turned to focus on the exhibition business. and more marketing activities While the interior construction business Will focus on smaller jobs in order to be able to manage thoroughly Deliver work quickly Makes the rotation of the job faster. Importantly, create a good margin for the company.

Recently, the company get a new job From the Miracle Group, which is an interior work (Interiors) lounge in Suvarnabhumi Airport. Within the 1st concourse building project (Satellite 1: SAT-1), worth 65 million baht, with a 5-month operation period (May-September this year), which began operations on May 1 2023 and will start recognizing revenue immediately in Q2/23. Inside the shopping center comes in 2 projects with a total value of about 20 million baht, which will gradually deliver the work and recognize revenue during the 2nd-3rd quarter of this year, resulting in the 2nd quarter of 2023 the company will start recognizing revenue. from the Interiors group, which has continued to increase outstandingly

At the same time, in September this year, the company received interior work for a hotel worth more than 42 million baht, which is expected to gradually recognize revenue this year, about 16 million baht. Continue to be recognized in the year 2024, resulting in the current company having a backlog of more than 560 million baht and during the rest of the year there will be opportunities for new jobs. Not less than 290 million baht for sure, making the company confident that in 2013 “K” will definitely return to turn around as planned.

As for the operating results for the 1st quarter of 2023, the company had service income of 192.5 million baht, representing a decrease of 6.5% (yy), mainly due to the decrease in the interior decoration business line but increased acceptance in the business line. Organize more trade shows and marketing activities Because it can be managed to make a satisfactory profit. And able to manage the cost of services decreased to 163.11 million baht, representing a decrease of 14.5% (yy), resulting in a gross profit of 29.48 million baht, an increase of 92.4% (yy) compared to the same quarter of the previous year. Most of the profits come from trade fairs and marketing events that have clearly begun to recover.

From the aforementioned factors, in the 1st quarter of 2023, the company had operating profit before tax of 6.46 million baht, but when deducting tax expenses of 11.77 million baht (caused by adjusting deferred tax assets), causing Incurred a net loss of 5.30 million baht (Separately owned 5.18 million baht, subsidiaries 0.12 million baht), while both Myanmar and Cambodian subsidiaries still ceased operations. due to various situations Still uncertain both politically and economically. The management team has resolved to close the two subsidiaries which are in the process of dissolution.

By InfoQuest News Agency (17 May ’23)

Tags: K, Kingsmen C.M.T.I., Wongsakorn Pisetsit, Suvarnabhumi Airport, Thai shares, Lounge