By The Nation
The firm’s profit jumped by nearly 50 per cent in the quarter, it said.
It is positive on the outlook for the second half of 2018 with plans to further drive an integrated platform to enhance overall competitiveness. Ticon aims to become the leading provider of smart industrial platforms in Asean by 2020.
Sopon Racharaksa, president of Ticon Industrial Connection Plc, said: “Ticon’s quarterly financial results, ending on June 30, showed total revenue of Bt585 million and a net profit of Bt67 million, an increase of Bt22 million or 49 per cent in comparison to the same period last year.
"The achievement of Q2 2018 performance was derived from an increase of the revenue from rental factories and warehouses of Bt390 million, raised by Bt43 million or 13 per cent.
"Resulting from the occupancy rate of factories and warehouses soared from 45 per cent to 51 per cent and from 66 per cent to 67 per cent respectively.
"Additionally, there was also an income from the sale of land in Chonburi to an automotive manufacturer. Ticon has received management fees from Ticon Management Co, Ltd (TMAN), the REIT manager of Ticon Freehold and Leasehold Real Estate Investment Trust (TREIT).
"Consequentially from the successful conversion of the three property funds into TREIT, the management fees has jumped by 38 per cent from the corresponding period last year,” Sopon said.
"At present, TREIT is currently the largest industrial REIT in Thailand with assets worth over Bt32 billion. Sending its half-year revenue to Bt1.7 billion with a net profit of Bt328 million or increased by 134 per cent from the same period a year earlier.
“In the second half of the year, Ticon is continuing its business roadmap to achieve the target and deliver satisfactory performance. We are confident that Ticon will be the leading provider of smart industrial platforms in Asean with a portfolio of over 3.5 million square metres by 2020,” said Sopon.