SMART has announced its first-half 2022 results, with total revenue of 265.92 million baht, up 13.10%, while net profit stands at 11.22 million baht. The company is accelerating its involvement in government mega-projects and the EEC project, responding to the recovery of the tourism sector, which boosts demand for lightweight bricks and decorative lightweight bricks. The business outlook for Q3/2022 indicates an increase in project work in both horizontal and vertical developments in the eastern region, with a strategy to manage risks, reduce costs, and focus on O2O marketing strategies, developing products that meet the needs of modern construction, and expanding distribution channels nationwide to drive revenue growth as targeted.

Mr. Rangsit Teepakornsukasem, Managing Director of Smart Concrete Public Company Limited (SMART), a manufacturer and distributor of lightweight bricks using high-pressure steam curing for construction and building partitioning, as well as landscape decoration, revealed that the company achieved total revenue of 265.92 million baht in the first half of 2022, an increase from 235.12 million baht in the same period last year, representing a 13.10% growth, with a net profit of 11.22 million baht, down from 23.63 million baht in the previous year, a decrease of 52.50%.
In Q2 2022, the company reported total revenue of 128.21 million baht, up from 111.21 million baht in the same period last year, a 15.29% increase, with a net profit of 2.89 million baht, down from 9.10 million baht in the previous year, a decrease of 68.25%.

 

The improvement in revenue is attributed to the driving factors of large-scale government project investments, along with the policy of reopening the country, which has stimulated the tourism service sector to resume and renovate projects in both horizontal and vertical developments. This has resulted in a sustained demand for lightweight bricks and decorative lightweight bricks. However, net profit has decreased due to rising fuel and raw material costs for production.

The business direction for Q3/2022 involves accelerating the expansion of the customer base for horizontal and vertical projects in the Eastern Economic Corridor (EEC), where there is an increase in the construction of industrial factories and residential buildings, leading to a continuous demand for lightweight bricks and decorative lightweight bricks. The company will focus on O2O marketing strategies, expanding distribution channels through retail stores and modern trade nationwide, broadening the customer base among architects, small contractors, and homeowners, and conducting marketing activities to promote products widely through online media and social networks.

“However, we expect the company to continue facing high prices for oil and raw materials. We will focus on adjusting strategies, improving production processes, and managing production costs, as well as increasing the use of technology to enhance efficiency, reduce costs, and improve profitability. Additionally, we will develop lightweight bricks and decorative lightweight bricks, as well as lightweight bricks for structural work, to meet the demands of modern construction, address labor shortages, reduce costs, and expedite construction, driving sales growth according to our targets,” Mr. Rangsit stated.