WIIK Reports a Satisfying Increase of 886% in 3Q19 Profit, Booking ฿11m from High Sales
WIIK Reports a Satisfying Increase of 886% in 3Q19 Profit, Booking ฿11.15m from High Sales.
Mr. Wiboon Sangwithayanon, Chief Executive Officer of Wiik & Hoeglund Public Company Limited (WIIK), has reported the 3Q19 consolidated financial of the company through the Stock Exchange of Thailand, stating that the net profit for the period was 11.15 million baht, increased 10.02 million baht or 886.73% when compared to the net profit of 1.13 million baht in the same period of last year.
The increase was from domestic sales and installation income increased by 23.89 million baht or 15.12%. Income from water treatment and distribution increased by 10.99 million baht from investment in a company possessing a water treatment contract with Patong Municipality, Phuket Province of a subsidiary. It’s started to recognize revenue from 4 January 2019.
Meanwhile, the cost of the water management business for quarter 3/2019 was 65.84% of income. The cost per income rate decreased compared to quarter 3/2018 which was 75.09% of income.
Moreover, the Board of Directors Meeting No. 6/2019 on November 13, 2019 had approved to propose to the EGM to approve the capital increase of 140,000,000 Baht from the formerly registered capital of 585,335,328 Baht to the registered capital of 725,335,328 Baht by issuing 140,000,000 ordinary shares with a par value of 1.00 Baht per share for offering to the Private Placement (PP) and amendment of the Memorandum of Association. The increase value and shares value as a result of business expansion, aiming for better operating performance, as well as benefits in terms of future dividend
In addition, the company had approved to propose to the EGM to approve the change of the company’s name from Wiik & Hoeglund Public Company Limited to WIIK Public Company Limited while the symbol remains the same.
The Extraordinary General Meeting of Shareholders No.1/2019 on December 18, 2019 at 2.00 p.m. at Grand Mercure Bangkok Fortune Hotel, Platinum Hall, 3rd floor, 1 Ratchadapisek Road, Fortune Town, Dindaeng, Bangkok 10400.