WICE forwards works worth 200 million baht to UWT to increase work volumes in Hong Kong and China, expecting the revenue to be recorded in Q2 onward amidst good news of more warehouse management services under negotiation with a few new customers.

General Press Releases Monday March 12, 2018 15:39
Bangkok--12 Mar--Worklink PR

WICE forwards works worth 200 million baht to UWT to increase work volumes in Hong Kong and China, expecting the revenue to be recorded in Q2 onward amidst good news of more warehouse management services under negotiation with a few new customers. With confidence, the Q1's performance is to be disclosed with outstanding record, leading to the record high of 30% growth of 2018's performance. Preparation to establish its brand is arranged to cover logistics operation across Asia.

Mr. Chudet Kongsoonthorn, Managing Director – Business Development, WICE Logistics Pc. (WICE), the complete international logistics service provider, disclosed the Company's operation plan after the business acquisition of Universal Worldwide Transportation Limited (UWT) that the Company was under the process of work delivery to UWT in order to expand work volumes in Hong Kong and China which accounted for 200 million baht of which was expected to record as the revenue in Q2/2018 on ward.

In addition, the Company is under the negotiation with a few new customers to provide warehouse management services. However, the services of air freight, sea freight, and local land transport have a tendency to grow with gradual increases of work volumes. The increases will cause good performance to the revenue in the first quarter of this year and the total revenue to reach at least 30% growth or at the approximate of 1,800 million baht, meeting the target and constantly hitting the Company's record high growth.

"The Company continues to constantly establish WICE brand among the international logistics business's recognition through the expansion of business alliance network in order to extend the Company's all business types to cover important transportation routes, which serve all aspects of customers' demands, as well as to enhance the WICE brand as the leader of logistics services in Asia'" said Mr. Chudet.

The 2017 operating results reported the total revenue of 1,402.33 million baht which increased from the total revenue of 1,035.64 million of the same period of the previous year by 366.69 million baht, accounting for the 35.40% increase. The net profit's 89.70 million baht increased from the net profit of 77.18 million baht of the same period of the previous year by16.22%.

The operating results of Q4/2017 had the total revenue of 343.88 million baht which increased from the total revenue of 342.10 million baht of the same period of the previous year by 1.78 million or 0.52 %. The net profit of 11.97 million baht decreased from the net profit of 27.76 million baht of the same period of the previous year by15.79 million baht due to the Company's UWT acquisition expense in Q4/2017 worth 9.17 million baht and the affect caused by drastic appreciation and volatility of the Thai baht, leading to an unrealized loss of 5.13 million baht. However, those were only one-time expenses and the Company had the protection against future foreign exchange risk.

In addition, the meeting of the Board of Directors had a resolution to approve the dividend payment of 0.12 baht per share for the accounting period ending 31 December 2017, worth 78.23 million baht, accounting for 87.21% of the net profit. The dividend payment will be distributed to the shareholders whose names appear on the record date, 7 March 2018, in order to have the rights to participating the shareholders' Annual General Meeting (AGM) and to receiving the dividend. The dividend payment date is on 16 May 2018. This resolution is prepared to ask for the approval from the shareholders' Annual General Meeting of 2018 on 25 April 2018.


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