Gunkul Engineering eyes 60% growth

Gunkul Engineering Plc has projected 60% year-on-year revenue growth to 4.3 billion baht this year on strong equipment sales and new revenue from solar-farm business.

For 2013, the power engineering company aims to increase revenue by 20%, said managing director Sopacha Dhumrongpiyawut yesterday.

She said electrical equipment trading, Gunkul’s core business, has grown fast in both domestic and external markets, while a solar plant, its new business, starts to generate income this year at 5% of total output of 57 megawatts.

Gunkul next year will book a full income of 500 million baht from the solar plant.

She said Gunkul recorded revenue of 2.56 billion baht in the first half, including an extraordinary gain from selling an investment in subsidiary G-Power Source Co Ltd for 416.22 million baht. Net profit was 504.71 million baht, compared with 110.18 million baht of the same period last year.

“Gunkul continues to grow, with a backlog of 1.3 billion baht now. Our backlog is projected to increase to 2 billion baht by the end of the year, to be evenly realised this year and next,” said Ms Sopacha.

She said the company plan to join new bids worth around 4 billion baht for wind energy projects and dam renovation in the second half.

This month, the company will deliver the Banglang dam project, with a total investment of 500 million baht of which around 100 million will be booked this year.

It also received a letter of interest to renovate Sirindhorn Dam, a project value around 200 million baht, but the contract has not been signed yet.

Source: http://www.bangkokpost.com/business/economics/311268/gunkul-eyes-60-growth