RT bids for tunnel projects worth over 13,000 million baht, targeting 68% revenue growth in 20
RT moves forward with tunnel bidding throughout Thailand, total value over 13,000 billion, targeting 68% revenue growth in 20, maintaining gross profit of 12-15%, stockpiling 5,796 million baht in backlog
Mr. Chavalit Thanomthin, Chief Executive Officer of Right Tunneling Public Company Limited (RT), a specialist in tunnel drilling, civil engineering and complete geotechnical services. Revealed that the business direction in 2568 is expected to grow at a good rate, with a target of 20% revenue growth and maintaining a gross profit margin of 12-15%.
The company plans to bid on a variety of construction projects, including short-term projects, to recognize revenue quickly, to increase liquidity and better manage cash flow.
Along with planning and managing construction projects effectively, strictly controlling costs, especially construction material costs and labor costs, including planning to purchase materials in large quantities, such as direct purchasing from overseas manufacturers, making long-term sales contracts with concrete manufacturers to control costs, reduce the risk of raw material price fluctuations, and increase profit-making capabilities.
The Company currently has 22 construction projects in hand and has a backlog of 5,796 million baht, which will gradually recognize revenue until 2571. The construction progress is according to plan and some projects can proceed faster than planned with good cooperation from government agencies and communities, ensuring that the projects can be delivered on target.
In addition The company is preparing to bid for several large projects worth a total of approximately 13,000 billion baht. For example, the construction of the Kathu-Patong road tunnel in Phuket Province (Phase 1, Kathu-Patong section), the construction of the Pak Nam Pho-Den Chai double-track railway tunnel, the construction of the Den Chai-Chiang Mai double-track railway tunnel, and the Metropolitan Electricity Authority's underground power cable tunnel, which will be an important opportunity to expand the proportion of work and create further growth for the company.
RT's 2567 operating results Total revenue was 3,636 million baht, an increase of 3,151 million baht or 485% from the previous year's total revenue of 15 million baht.
Net profit was 71 million baht, an increase of 40 million baht or 31% from the previous year's net profit of 78 million baht. For the fourth quarter of 4, the company had a total revenue of 2567 million baht, an increase of 970 million baht or 818% from the same period last year, which had a total revenue of 152 million baht, and a net profit of 19 million baht, an increase of 12 million baht or 1.42% from the same period last year, which had a net profit of 11 million baht.
The company's performance improved due to recognition of construction revenue according to the progress of the work in hand, as well as being able to manage project costs effectively according to the plan.
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