PPS announces 2021 financial results with revenue of 372.50 million baht and a profit of 20.04 million baht, marking a growth of 176.69%. The company is moving forward with plans to bid for government and private sector projects in line with economic stimulus policies. Meanwhile, the Laem Yamu project in Phuket has garnered increased interest from investors, and the company is issuing bonds to repay existing bonds worth 200 million baht at an interest rate of 7.5%.

Dr. Pongthorn Tharachaichai, CEO of Project Planning Service Public Company Limited (PPS), revealed that the company's net profit for 2021 was 20.04 million baht, a turnaround from a net loss of 26.13 million baht the previous year, representing an increase of 46.17 million baht or 176.69%. Total revenue was 396.56 million baht, down from 409.65 million baht the previous year, a decrease of 13.09 million baht or 3.20%.

The company's ability to turn losses into profits was attributed to its strategic shift towards short-term projects, allowing for quicker delivery, as well as improved expense management and operational cost control. Although revenue slightly decreased due to ongoing challenges from the coronavirus pandemic, which led to construction project halts from government measures, the company saw revenue growth from contract renewals at Suvarnabhumi Airport and continued to receive short-term projects from the private sector, enabling it to recognize revenue and deliver projects promptly.

For this year, the company is accelerating its bids for government and private sector projects, anticipating a series of investments in line with the country's infrastructure development plans to stimulate the economy, particularly in the retail sector, which is expected to see increased investment. This will enhance revenue potential by expanding service offerings to tap into new customer markets while continuously managing costs and expenses to achieve better net profit margins. Currently, the company has a backlog of approximately 503 million baht, with contracts awaiting signature totaling around 70 million baht.

Additionally, the luxury villa real estate development project at Laem Yamu in Phuket has attracted more investor interest following the reopening of the country and widespread vaccination efforts. The development of central areas, including roads and power supply, will enhance sales capability and facilitate potential buyers visiting the project. The company believes that investing in Phuket remains an attractive opportunity for international investors.

Furthermore, the company has submitted a filing to the Securities and Exchange Commission (SEC) to issue and offer partially secured bonds for the first tranche of 2022, valued at no more than 200 million baht, with a maturity of 1 year, 11 months, and 29 days, and a fixed interest rate of 7.50% per annum, with interest paid every three months throughout the bond's term. The bonds were offered to institutional investors and/or large investors from February 22-24, 2022, through KTBST Securities, the underwriter for this bond issuance. The funds raised will be used to repay bonds maturing on February 25, 2022, totaling 200 million baht.