JR 3Q Profit Soars 129% to ฿33Mn with Huge Amount of Backlog to Recognize in the Future

J.R.W. Utility Public Company Limited (JR) has reported its 3Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

JR reported a net profit of 33.76 million baht, increased 129% from the same period of last year. The increase in net profit was mainly due to its higher revenue of 464 million baht in 3Q20, increased from a net profit of 127 million baht in 3Q19.

More importantly, as at September 30, 2020, revenue totalling 6,169.5 million baht is expected to be recognised in the future in respect of performance under contract with customers that are undelivered (or partially undelivered) (December 31, 2019: 3,024.1 million baht).

 

JR is expected to initiate its first trading day on November 30, 2020, with its IPO price at ฿5.50/share.