Turnkey Communication Services Plc (TKC) posted a profit of 203 million baht for the first nine months of 2023, up 25.1% year-on-year.
Managing director Sayam Tiewtranon said the company will continue to invest in targeted businesses in the last quarter of 2023.
TKC also secured a new partner to strengthen its operations, he said.
In the third quarter of 2023, TKC posted profit of 73.8 million baht, up 32.1 million or 76.9% year-on-year from 41.7 million.
For the period, the company reported total revenue of 944 million baht, up by 399 million or 73.3% year-on-year.
Mr Sayam said core revenue for the third quarter was from turnkey projects amounting to 633 million baht, up by 309 million or 95% from the same period last year after TKC recognised revenue from large projects that provide design, sourcing and installation of telecommunication systems, public safety systems and digital solution services.
For the period, the company gained revenue from engineering services and maintenance of 302 million baht, an increase of 88.4 million or 41.4% year-on-year, because of recognition of revenue from providing services to develop information technology knowledge and skills for the digital society.
He said he is optimistic about the financial performance in the fourth quarter, with the company on track to achieving its annual revenue growth goal of at least 20%.
TKC provides consulting services, and designs and installs telecom systems, data communication systems, public safety systems and digital services systems.
Mr Sayam said the company is maintaining its strategy to become the leader in providing total digital solutions and smart solutions, with a focus on smart hospitals, platforms, logistics, cybersecurity, learning and farming.
All of these will create new growth opportunities for TKC, especially in areas related to the Internet of Things and the creation and design of networks and servers to help customers increase operating efficiency, cut costs and control quality, he said.
TKC has a backlog worth 3.2 billion baht, 20% of which it expects to recognise as revenue this year, said Mr Sayam.
The company plans to bid for projects worth around 10 billion baht per year and expects to secure at least 30-40% of these projects, he said.
Mr Sayam said this year the company expects revenue growth of at least 20%, achieving total revenue of 3 billion baht, with telecom projects the main contributor.
TKC became the majority shareholder of Advanced Information Technology Plc with the purchase of a 24.38% share.
The transaction enables TKC to further grow its business in the telecom and information and communication technology sectors, he said.