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business

Ticon Group says H1 revenues topped Bt1 billion


Ticon Industrial Connection Plc has reported net revenue of Bt1.028 billion for the first half of this year. 

It said it had repaid Bt5.91 billion in loans, greatly reducing its net interest-bearing debt ratio. 
Chief executive Virapan Pulges said the figures affirm Ticon’s steady business growth both domestically and internationally.
The company reported net revenue of Bt481 million, an increase of Bt135 million or 39 per cent over the same period last year, when profits totalled Bt45 million. 
The bulk of the revenue, Bt347 million, came from factory and warehouse rentals.
While income in the first half totalled Bt1.028 billion, net profit was Bt140 million. 
Ticon Group added 26,657 square metres of leasable factory space and 117,731sqm of warehouse space in the first half.
Ticon and its subsidiary TPark together gained 332 new customers, more than 90 per cent of which were foreign companies, mainly Japanese. 
Virapan said Ticon has also increased its proportion of Chinese customers, chiefly in the automotive, electronics and logistics trades.
Foreign direct investment is expected to spur continuous growth in the Thai warehousing and logistics industries in the second half of the year, he said. 
There has been stagnancy in recent months as investors seek clarification from the government regarding the “Thailand 4.0” initiative, Virapan said, but the anticipated positive feedback from the public and private sectors should result in growth in the overall economy.
Warehousing and logistics will benefit, he predicted, particularly in regard to development of the Eastern Economic Corridor, which will be highly advantageous to Ticon’s business expansion.

Published : August 14, 2017

By : The Nation