UBA Gains 3% over 30% Growth Projection in 2022 and Strong Momentum in 2023

The share price of Utility Business Alliance Public Company Limited (mai: UBA) rose THB0.07 or 3.68% to THB1.97 per share in what could have been a speculation for its strong 2022-23 net profit outlook.

Mr. Somchat Sanghitkul, Chief Executive Officer of UBA, told “Kaohoon Turakij” that the company expected revenue to grow 10-15% in 2023, which could be its record high since the founding, boosted by its effective cost management and continuous business expansion. The company currently has around 1.3 billion baht of backlog that should be realized in 2023 around 500-600 million baht.

Mr. Somchat said that the company is expecting to enter into a bidding contest for 3-4 projects worth 2 billion baht. Meanwhile, the CEO expected revenue in 2022 to grow 15-30%.