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Loxley puts off listing of subsidiary

Plans bids for rrojects worth Bt13.68 billion in second half

Loxley Group is deferring the listing of its subsidiary Loxley Wireless on the Stock Exchange of Thailand until the country's political problems subside.

However, the company plans to bid for projects worth Bt13.68 billion in the second half of this year.

Those jobs should boost its revenue to Bt18 billion this year, Chalermchoke Lamsam, senior executive vice president, said yesterday.

Last year, the group's revenue rose by 6 per cent to Bt14.93 billion and net profit by 12 per cent to Bt590 million.

The ICT (information and communications technology) and projects divisions are still the core money spinners, accounting for 68 per cent of revenue, followed by trading at 26 per cent and services at 6 per cent. ICT and projects revenue has increased 7 per cent from Bt9.7 billion to Bt10.4 billion.

Despite the slump in the consumer-goods market, trading still generates nearly Bt4 billion in revenue, while services grew by 15 per cent from Bt780 million to Bt900 million, from its customer base's expansion related to airports and the security-service industry.

Extraordinary gains from the sale of investments early last year contributed to Loxley's continuing profit growth to Bt590 million last year. Its Bt11.26 billion backlog, a five-year high, will likely maintain profitability for Loxley. The planned project bidding will also push revenue further this year.

ICT and projects will still drive revenue for Loxley this year, with a backlog of Bt10.11 billion.

The trading division has Bt1 billion worth of contracts in hand.

Loxley plans to expand into other construction materials, such as automatic car parking facilities and home automation. Of the Bt11.26 billion in-hand contracts, 77 per cent will be realised as this year's revenue.


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