Mr. Sanphet Salit-attakorn Chief Executive Officer Yong Concrete Public Company Limited (YONG) disclosed that the company’s performance for the third quarter of 2022 was a total revenue of 254.32 million baht, an increase of 60.72 million baht or a 31% increase over the same period last year. And it reported a net profit of 23.17 million baht, an increase of 15.52 million baht or 203% over the same period last year. Primarily due to the relatively high volume of product deliveries and project work for both the public and private sectors.
In this regard, YONG announced the results of the third quarter of 2022 with net profit of 23.17 million baht, net earnings per share of 0.04 baht, compared with the same period last year with net profit of 7, 64 million baht, net profit per share of 0.02 baht.
While the results for the first nine months of this year The company reported total income of 732.26 million baht, an increase of 75.18 million baht or 11% over the same period last year . Net profit was 68.87 million baht, an increase of 19.62 million baht, or a 40 percent increase over the same period last year.
As regards the share of revenues from sales and services for the first 9 months of 2022, it is divided into 3 groups: private project clients for around 30%, public project clients for around 5% and generalist clients for about 65%. to rely on customers Including the creation of growth opportunities to support the recovery of the national economy after COVID-19 Money is expected to flow out to stimulate the economy from public sector and private investments. including the recovery of the real estate sector It helps to support the construction atmosphere in the country to be more active.
As for the direction of the business in the fourth quarter of 2022 which is the last curve of the year believe there will be good growth Currently the situation is recovering better. Causing real estate developers to focus on expanding more projects This has a positive effect on YONG and will result in a demand for posts, fence finished products. have more volume The firm has a group of low-rise real estate clients who are longtime business partners. and government clients. This will help support the company’s 2022 revenue growth goal of 10-15% from 2021 and have the opportunity to receive additional new projects during the remainder of this year as well. Ready to develop operations to be more efficient. together with cost management in terms of both materials and labor to increase the potential of construction works beyond the plan and to deliver the work on schedule
While progress in using the funds to raise funds to enter the stock market to expand factories to increase production capacity The plant in Bang Yai District is expected to go into operation around December. Bang Len District It is expected to start operating around the beginning of 2023 to increase the production capacity of the new plant. It is expected to significantly support manufacturing and drive revenue growth.
“The production capacity we currently produce is at 70-80% quite complete, which implies the need to open additional production facilities. to keep up with the incoming orders If the concrete plant is almost at full capacity it needs to further expand the production capacity to support the market demand”. said Mr. Sanphet
In addition, there are future investment plans to invest in the construction of a new precast concrete factory in Rayong Province using loans from financial institutions and the company’s working capital. This will result in both business expansion and the expansion of the production capacity of the existing manufacturing facility. and the opening of a new manufacturing facility supporting strong future revenue growth
By InfoQuest news agency (Nov. 16 ’22)
Tags: YOUNG, Yong concrete, Sanphet Salitatthakorn, Thai stocks
