MFEC PCL Reports Fruitful Year According to BAC Company Report30 Jul 2012 • by Natalie Aster
LONDON – March 2012 has marked the end of MFEC financial year: revenue increased by 60.5% to THB 4.16 B, gross profit gained 54.2% and equaled THB 849.1 M, operating and net income added 198.3% and 197.9%, respectively, and reached THB 287 M and THB 202.3 M.
In 2011, the Company has recognized the revenue mainly from Telecommunication sector at 29.5%, from Government and Education sector at 22.2%, Banking and Financial Services sector at 16.9%, State Enterprise and Utility at 9.5%, Manufacturing sector at 3%, and other sectors at 18.9%.
In the first half of 2011, the Telecom sector suffered a slight decrease in revenue contribution due to the unclear plan of 3G policy and little investment in technological change by the government. The Company has also expanded its services to the public education. For Banking and Financial Services Industry sector, there has been continued increase in terms of portfolio adoption in the sector. In the Manufacturing sector, MFEC has penetrated several sub-sectors such as large conglomerate, energy, and retails. In addition, the Company has successfully expanded coverage into other sectors such as State Enterprise and Utility, as well as Healthcare Services industry with revenue contribution of 9.5% and 0.2% consequently. With the new government policies, particularly the policies supportive of IT industry, the Company started to have more projects from the government sector.
MFEC backlog as of March 2012 comprised: Banking and Finance 32%, Telecom 26%, Government and Education 24%, Utility and energy 13%, Manufacturing 4%.
The main event of 2011 for the company was the merger of four major IT players in Thailand on behalf of ‘MFEC GROUP’ which strengthened the organization and support of their business opportunities. Changes in structure of IT industry around the world are important factors that need to be considered for a major strategic change. MFEC GROUP improves and develops the organization into a strong large-scale institution with potential to be the best in Software & IT Services of Thailand. Additionally, MFEC GROUP uses the strengths of each market leader in developing products and services to compete with other countries in the region and the world. IT innovation, research and development, intellectual property in software development are key competitive areas in the industry.
Founded in 1988 and headquartered in Bangkok (Thailand), MFEC PCL provides various IT services for a diversified range of industries. MFEC offers solutions for Banking & Financial Services, Public Sector, Education, Transportation, Enterprise & Manufacturing, Utility & Energy, Healthcare, Entertainment & Retails. MFEC list of customers is long and includes both state-owned and private companies, whether small or multinational. Principal customers include (but not limited to) Sun Microsystems, Cisco Systems, Hitachi, Symantec, IBM, BMC Software, Microsoft. The company is public and trades on Bangkok Stock Exchange under the ticker MFEC.
The details on the company’s performance, products, markets, business possibilities and experts’ forecasts can be found in the report “MFEC plc Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
MFEC plc Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Jun, 2012
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