RT Q2/22 turned profit 100.85% with revenue of 588.39 million baht
RT reveals Q2/22 results, total revenue 588.39 million baht, an increase of 16.82%, profit recovered 100.85% compared to the previous quarter. Foreseeing the business direction in 3Q22 with good prospects, focusing on improving project management efficiency Construction workers return to normal work. Factors supporting lower construction costs Ready to deliver work on time
Mr. Chawalit Thanomthin, Chief Executive Officer of Right Tunneling Public Company Limited or RT, a specialist in civil and geotechnical engineering. Revealing the results of Q2/22, the company had total revenue of 588.39 million baht, an increase from the previous quarter with total revenue of 503.69 million baht, amounting to 84.7 million baht, or an increase of 16.82%, and a net profit of 0.21 million baht, an increase from the quarter. Before net loss of 25.31 million baht, amounting to 25.52 million baht, or an increase of 100.85%.
However, the company's revenue decreased from the same period last year. with total revenue of 599.46 million baht, amounting to 11.07 million baht, and net profit decreased from the same period last year. with a net profit of 7.27 million baht, amounting to 7.06 million baht
As for the operating results of the first half of 2022, the company had a total revenue of 1,091.18 million baht, a decrease from the same period last year with a total revenue of 1,334.98 million baht and a net loss of 25.10 million baht, a decrease from the same period last year with a net profit of 44.52. million baht
The reason why the company has adjusted revenue and profit better compared to the previous quarter. from managing the cost of construction materials such as steel, oil, as well as relaxing measures to close the construction camp during the Covid-19 epidemic As a result, the cost of care for the affected labor tends to be better. This makes it possible to manage the construction and delivery of work. Including the recognition of income from various projects faster, while the company's revenue and profit declined compared to the same period last year. as a result of the COVID-19 outbreak. Continuing from 2021
As for the business direction in the 3rd quarter of 2022, the company continues to focus on delivering more work. by improving project management efficiency as well as managing construction workers who have started to return to work as usual In addition, the company has cooperation with partner companies to provide additional labor at the site of new construction projects that will occur in the future. which will be clear and ready to travel to the area in August and will be able to carry out the construction work as planned In addition, factors supporting material cost prices tend to decrease. Therefore, it is expected that the Company will have a better performance.
“With operational strategies that continuously adjust according to the situation As a result, the business in this quarter has a better direction. However, the company believes that the industry has bottomed out. and it is expected that various factors affecting costs tend to be easing coupled with the construction workers that are coming back Therefore, there is confidence that the company will be able to complete the construction work faster. In addition, the company has a plan to deliver some projects to increase the company's revenue recognition as well," Mr. Chavalit added.