16 January 2007
PLE aims for 25% growth
CONSTRUCTION: The listed construction company Power Line Engineering Plc (PLE) expects 2007 revenues to rise at least 25% from more than seven billion baht estimated for 2006.
The company plans to sell 180 million new shares in a private offering in the first quarter, which would help fund expansion and lower funding costs, according to senior vice-president Thada Chumasaratul.
'Revenues for 2006 were in line with our target. For 2007, revenues should rise at least 25% because we will book revenues from big projects,' Mr Thada said.
Finansa Securities estimated the company had revenues of 6.9 billion baht in 2006, with an increase of 48% to 10.2 billion baht in 2007, and net profit for the year of 465 million baht, according to Reuters Estimates.
Its 2005 revenues were 5.3 billion baht.
Power Line had projected an increase in 2006 revenues of at least 30% but less than a 7% rise in net profit from a 2005 figure of 242 million baht as high energy costs and building material prices hit its margins.
PLE shares closed yesterday on the Stock Exchange of Thailand at 6.30 baht, up 15 satang, in trade worth a total of 19.66 million baht. REUTERS
Source: INBrief by Bangkok Post
Tuesday January 16, 2007