Italthai looks ahead to 12% revenue rise

Yuthachai, highlighing the growth trend, noted that the total revenue for 2018 was on track to be 17 higher than of 2017.
He told a press conference that under its new vision, Italthai Group “is set to empower every business group for consistent and sustainable growth and enhance its competitiveness and readiness to capitalise” on the right investment opportunities. 
It will also follow through with its roadmap, focusing on its two core businesses – engineering services and construction contractor and construction equipment, and hospitality and lifestyle – and furthering its foray into key Asian markets. The group is confident it will achieve its targeted income of Bt15.03 billion for 2019.
Yuthachai said that the construction sector can expect an average growth of 7-9 per cent per year from 2018-20, citing Krungsri Research. He said this growth would be fuelled by infrastructure investment projects initiated partly as macroeconomic stimulus, particularly with the Eastern Economic Corridor (EEC). 
Meanwhile, the domestic tourism industry is expected to grow by 9.6 per cent in 2018, according to the Tourism Authority of Thailand, on the back of the government’s tourism stimulating measures, which also correspond with the government’s 20-year national strategy. Given these favourable factors, Italthai Group believes that its core businesses will enjoy further growth.
Yuthachai said that to complement these external factors, the company has adjusted its vision and mission to focus more on developing its human capital by fostering a strong organisational culture known as the six “Italthai Core Values”. These comprise Listen. Speak. Share; Learn and Grow; Create an Impact; Do What is Right; Bring Fun to Work; and Never Give Up. 
Yuthachai said that, in tandem, to drive employees towards the group’s common goals, intensive training programs “are offered to help realign their mindsets and inspire new and diverse ideas for products, services, and experiences that will meet the needs of the shifting business landscape”. As such, the company’s growth rate this year has been set at 17 per cent, with a target for total income of Bt13.43 billion.
As for 2019, Italthai Group will further expand its businesses through Asia in line with its 2017-21 roadmap. The company expects to see a growth rate of 12 per cent and total income of Bt15,03 billion in 2019. This is divided into Bt9.4 billion, or 63 per cent, from the engineering services and construction contractor and construction equipment group and Bt5.63 billion, or 37 per cent, from the hospitality and lifestyle group.