The share price of WIIK Public Company Limited (WIIK) jumped ฿0.14/share or 6.54% to ฿2.28/share at the closing of the morning session on August 10, 2020, after announcing soaring profits in 2Q20.
WIIK reported a jumping of 3,877% in net profit from 720,000 baht in 2Q19 to 28 million baht in 2Q20. The increase was due to the delivery of the backlog on hand and the increase of new sales that were delivered in the quarter from projects in the Eastern Economic Corridor (ECC) and from the preparation of drought-related projects.
Moreover, WIIK stated that the backlog as at 30 June 2020 increased from the Backlog as at 31 December 2019. During the first half of 2020, the company continuously got new orders from new projects. The clients are confident in the quality, production capacity, and expertise of the company. This resulted in more orders to the company. Currently, the company has over 1,064 million baht worth of backlog.