Builder Toyo-Thai shares jump on strong order book
BANGKOK, Sept 10
BANGKOK, Sept 10 (Reuters) - Contractor Toyo-Thai Corp Pcl , which specialises in integrated engineering, procurement and construction, said it had a strong order book and expected revenue to rise by about 30 percent to 16 billion baht ($497 million) this year.
Shares in Toyo-Thai, a joint venture between Italian-Thai Development and Japan's Toyo Engineering Corp,
jumped 4.27 percent to 30.50 baht, while the broader SET index was 0.27 percent higher.
"We will definitely reach the revenue growth target of 30 percent because we have orders worth 32 billion baht, of which we expect to realise a third by this year and the rest in the period until 2015," Kobchai Thanasukarn, general manager for finance and investor relations, told reporters on Tuesday.
In 2012 Toyo-Thai earned 11 billion baht in revenue. In the first half of 2013 it earned 6.7 billion baht.
Kobchai said the company expects revenue to rise by no less than 25 percent next year to about 20 billion baht.
($1 = 32.1650 Thai baht) 1630(0930) (Reporting by Pairat Temphairojana; Editing by Supriya Kurane) ((firstname.lastname@example.org)(66 2 648 9739)(Reuters Messaging:)(email@example.com) )
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