- Published: 23 Feb 2013
- Bangkok Post
- Writer: Nuntawun Polkuamdee
Group Lease Plc (GL), the SET-listed motorcycle
leasing firm, expects its strong performance to continue this year as
low interest rates support leasing growth.
Konoshita: Will hit monthly goal by May
GL posted a net profit of 357 million baht from 2012 operations, a 66% jump from the 215 million posted in 2011.
Mitsuji Konoshita, the chairman and chief executive, attributed last
year's results to better-than-expected revenue growth resulting from the
company's aggressive expansion and better relations with motorcycle
dealers nationwide.
The country's robust economic growth and supporting factors such as the daily minimum wage hike and high crop prices helped.
"Our streamlined efficiency in maintaining a good-quality portfolio
is also important for increasing profitability," said Mr Konoshita.
GL managed a drastic reduction in bad debt from 205 million baht in 2011 to 45 million last year.
The Tokyo-based GL sold 8,200 units last month compared with 3,800 to 4,000 in past years.
The figures slid in 2011 on widespread flooding but rebounded last year amid the country's robust recovery.
Mr Konoshita said GL will maintain a similar pace of high
profitability this year thanks to further Thai expansion and a new
revenue stream from Cambodia starting in the third quarter.
GL had earlier forecast monthly sales in Thailand to rise to 10,000 units by year-end.
However, that target will be raised, as the earlier goal will
probably be reached by May thanks to strong economic growth, said Mr
Konoshita.
Meanwhile, sales from Cambodia are estimated at 2,000 units a month,
making a significant contribution to the bottom line when they start
later this year.
GL last year began diversifying into Cambodia for the first leg of an
ambitious strategy to expand in regional markets and exploit the Asean
Economic Community in 2016.
Shares of GL closed yesterday on the SET at 81.75 baht, up 25 satang, in trade worth 11.5 million baht.
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