EGCO posts Bt17 bn in net profit for H1
THE ELECTRICITY Generating Public Company Limited (EGCO) has announced a net profit of more than Bt17 billion for the first half of this year and an an interim dividend payment of Bt6 per share.
Jakgrich Pibulpairoj, president of EGCO, said the company achieved its target of Bt17.8 billion in net profit in the first six months, an increase of Bt11.31 billion or 174 per cent from the same period last year.
In the second-quarter, the company posted Bt2.36 billion in net loss, a decrease of Bt5.89 billion or 167 per cent form the previous year, mainly due to foreign exchange loss.
EGCO’s board of directors also approved an interim dividend payment for the first half of Bt3.50 per share and a special dividend payment of Bt2.50 per share, totalling Bt6 per share, to be paid on September 14.
Currently, the company has three overseas power projects under construction with a combined capacity of 544 MW -“Xayaburi” and “Nam Theun 1” in Laos and “San Buenaventura” in the Philippines, scheduled to start commercial operations in 2019 and 2022.
For business direction in the second half of 2018, “EGCO will stay committed to sustainable growth and to generate steady and good return for the shareholders,” Jakgrich said.
In seeking investment opportunities, the company will keep its focus on power business, its core expertise, especially in countries where the company has a strong presence.
The group will also target asset acquisition in parallel with its Greenfield project development in Asia Pacific countries. For domestic investment, the group is well prepared for opportunities arising from the government’s policy and the Thailand Power Development Plan (PDP) which would be revised”, said Jakgrich.
In the first half year of 2018, it was well recognised for its business and financial strength among various agencies.
It was among 100 listed companies ranked by Thaipat Institute in its ESG100 list for the fourth year in a row for its contributions to the environment, society as well as corporate governance
EGCO has been selected by the Stock Exchange of Thailand to be one of the 45 stocks in the “SET |THSI Index”, as a listed company which runs its businesses sustainably.
It has also been ranked among the 2,000 largest publicly-listed companies in the world by Forbes Global 2000 in 2018, based on collective sales, profit, assets and market value.
