DEMCO Jumps 5% over a Stronger Earnings Projection in 2021 with Backlog of ฿3.47Bn

The share price of Demco Public Company Limited (DEMCO) rose ฿0.16/share or 4.85% to ฿3.46/share as of 15:35 local time in Thailand, with a trading value of 43 million baht.

 

The increase in share price might be mainly due to the forecast of DEMCO’s 2021 earnings outlook. DEMCO targeted a stronger growth in 2021 as 2,000 million baht of total revenue this year is expected to come from the current backlog of 3,456 million baht, while about 1,900 million baht will be from projects that are waiting for signing.

 

Mr. Phongsak Siricupta, Chairman of Executive Committee of DEMCO, revealed that the company aimed to deliver a stronger revenue this year, compared to a revenue of 2,497.12 million baht in 2020, as the current backlog is 3,465.83 million baht, which is expected to generate about 2,000 million baht and 1,4000 million baht revenue in 2021-2022, respectively.

 

Additionally, there are several projects with a combined value of about 1,900 million baht that are waiting for signing, which could drive the company’s earnings back to a solid growth track this year.