COM7 Expects 2020 Profit to Record New High, Driving by iPhone 12

COM7 Public Company Limited (COM7) targeted to record a new high profit in 4Q20, growing by 10%, supported by iPhone 12 sales and 5G technology, budgeting 400 million baht for the expansion of 100 branches next year, while estimated the year 2020 profit of more than 1,200 million baht. 

 

COM7 Chief Executive Officer Mr. Sura Khanittaweekul revealed that the company forecasted sales revenue to hit record high in 4Q20 and hoped full-year net profit to increase in line with sales volume particularly the sales of iPhone 12 that just set a new record for pre-order.  

 

The company is set to expand 100 branches in 2021 with 70-80% located provincially, pushing COM7 to have a total of more than 900 branches.  

 

For the 2020 profit, COM7 expected a profit of approx. 1,200 million baht with a net profit margin of 3% as expenses for the rental back set to resume following the improving Covid-19 outbreak in Thailand. 

 

The share price of COM7 today closed at ฿40.25/share, rose ฿2.25/share or 5.92% with a trading value of 611 million baht.