Qualitech Plc, a listed inspection and non-destructive testing specialist, plans to team up with a foreign partner to expand to the Middle East next year.
QLT managing director Sannpat Rattakham said the company expected 10%revenue growth this year from 245 million baht posted last year.
The company booked second-quarter profits of 16.09 million baht, up from 9.69 million in the same period last year.First-half profits rose year-on-year to 34.6 million baht from 21.51 million last year.
Mr Sannpat said the company had a backlog of 220 million baht as of June,with 130 million expected to be realised in the second half of the year and the rest in 2010. Services revenue in the first half totalled 134.6 million baht, up from 109.46 million in the same period last year.
Among the company's ongoing projects is a testing mandate for a gas pipeline project running from Rayong to Kaeng Khoi. QLT expects to book 13 million baht in revenues from the project.
"Even though our project revenues are relatively small, we can maintain the gross profit margin at a high 40%and net profit margin at 20% to 25%. We can maintain these rates thanks to our skills and experience, and our strong customers such as Chevron and other leading energy firms," Mr Sannpat said.
He said the company was in talks with two or three potential partners to expand its non-destructive testing services to the Middle East. The project is expected to be finalised this year and begin operations in 2010.
"Investing in the Middle East is challenging. Several companies have tried to expand to the region and have lost,"Mr Sannpat said.
"We will bring in a partner with extensive experience in the region. We are quite optimistic of success."
Shares of QLT on the Market for Alternative Investment closed yesterday at 4.24 baht, down four satang, in trade worth 1.15 million baht. The company listed on the MAI in June with an initial public offering price of four baht per share.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment