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BANGKOK, Feb 26, 2016 - (ACN Newswire) - Scan Inter PCL, or SCN (SET:SCN), the operator of a fully-integrated CNG/NGV business, has announced its operating results for Q4 and full FY2015, with a 242% increase in quarterly net income to THB 76.38 million, achieved by outstanding revenues from CNG-related businesses, and a 53.45% increase in annual net income to THB 239.94 million.
SCN also declared dividends of THB 0.10 per share, and plans to increase the capital of Siam Vasco, a 100%-owned subsidiary, to finance an expansion of its NGV/CNG station network, and projected a 40% growth rate for 2016 due to the ongoing healthy growth in CNG-related businesses.
Dr. Littee Kitpipit, Executive Director of SCN, said results were attributable to the efficient management of CNG-related businesses, including industrial compressed natural gas (ICNG), private mother station (PMS), third party logistic (TPL) and private brand station (PBS) businesses. The increasing revenue in these businesses followed earlier investments in production capacity, while growth was further driven during Q4 by revenue from the natural gas quality improvement (NGQI) business.
Given this strong performance, SCN's board approved FY2015 dividends of THB 0.10 per share. The record date will be 9 May 2016, the book closing date 10 May 2016 and the payment date 18 May 2016.
He added that the board has also endorsed a plan to raise the authorised capital of Siam Vasco, SCN's 100%-owned subsidiary, from THB 20 million to THB 200 million, in order to finance expansion of the Company's NGV/CNG station network - as a response to the government's recent policy to float NGV/CNG prices, which is expected to become a positive factor for NGV/CNG demand in Thailand.
As previously announced, SCN plans expansion through the introduction of at least three new stations via merger and acquisition. SCN currently has seven stations, four of which it runs itself and the remaining three jointly with Susco. Ten stations are expected to average aggregate daily sales of 450,000kg, or generate aggregate annual revenue in the NGV/CNG station business of at least THB 2 billion.
SCN expects to realize revenues of THB 200 million in FY2016 (from THB 500 million works in hand) from the installation and maintenance of NGV/CNG stations for PTT and private firms, of which THB 100 million will be generated during this first quarter, and the balance over the following quarters.
The Company is likely to continue strong growth momentum in its ICNG business, and its CNG production plant in Sam Khok, Pathum Thani, with capacity already increased to 643 million tonnes, is expected to perform well. Its natural gas quality improvement (NGQI) business will also start generating full-year revenue this year.
"This year we will place more focus on expansion of our NGV/CNG station network to secure stable revenues that, along with strong growth projections in our connected businesses, allows us to project an overall growth rate of 40% for 2016," concluded Dr. Kitpipit.
Contact:
MasterMind Communications Co Ltd
(for Scan Inter PCL)
Orn-arong ("Fah") Pattaravejkul
T: +66-2-612-0281 #129
M: +66-86-884-4458,
E: ornanong.p@mtmultimedia.com /
orn_tabo@hotmail.com
Topic: Earnings
Source: Scan Inter PCL
Sectors: Gas & Oil, Energy, Alternatives, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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