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TUESDAY, September 27, 2022
nationthailand
SET-listed Sabuy Tech announces 657% rise in Q2 profits

SET-listed Sabuy Tech announces 657% rise in Q2 profits

TUESDAY, August 09, 2022
170

SET-listed fintech and payment machine operator Sabuy Technology (SABTECH) has announced a 657-per-cent rise in second-quarter net profit this year to 356 million baht.

The company also reported second-quarter revenue of 756 million baht, up 95 per cent.

Sabuy this year unveiled its strategy to become a fintech firm by expanding its four core businesses – payments, merchandising, business solutions, and financial services.

CEO Chookiat Rujanapornpaje said the company is developing technology and lifestyle-related services for customers under the concept "Sabuy Life from Wake-up to Sleep".

Sabuy is targeting total revenue of 5 billion baht this year.

"The company has also set its revenue target for next year at 20 billion baht," Chookiat added.

He said the company is developing its workforce, applying technologies and innovations, improving workflow and managing risks to maintain sustainable growth in the long term.

"Sabuy has continued to expand business constantly along with implementing its strategy to maintain significant growth," he said.

SET-listed Sabuy Tech announces 657% rise in Q2 profits

Wirach Morakotkarn, chief of commerce & investment, said Sabuy planned to increase customer touchpoints nationwide to 500,000 within this year.

Sabuy will also invest in a media entertainment company to boost the potential of its InnoTainment (innovative media) business, expecting to announce the results within a couple of weeks.

SET-listed Sabuy Tech announces 657% rise in Q2 profits

Sabuy develops all-in-one business platforms offering consumers health, wealth, work and recreation services.

The company operates six main business groups: Payments and Wallet, Enterprise & Life, Connext, Financial Inclusion, InnoTainment, and Venture – an investment business to support sustainable growth.