Takorn Rattanakamolporn, CEO of Ditto (Thailand) Public Company Limited (SET: DITTO), stated that the company posted a net profit of THB 146.41 million in 1Q25, compared to THB 104.59 million during the same period last year—a robust increase of THB 41.82 million, up 40% year-on-year.
Revenue from sales and services reached THB 745.27 million, up 4% from THB 717.38 million a year ago, reflecting a year-on-year increase of THB 27.89 million. DITTO has consistently maintained profit growth annually, with core revenue coming from technology engineering projects as well as government projects.
Additional income was generated from sales and services related to document management systems and expanding Cyber Security solutions for both public and private sector clients.
In 1Q25, the company recognized revenue of THB 94.07 million from providing data import services for the nationwide online land registration project for the Department of Lands. Additionally, DITTO logged a share of profit from investments in associates of THB 16.84 million.
The 40% profit growth, even amid Thailand’s volatile economic climate and the slow recovery affecting the IT Service sector, underscores DITTO’s resilience as many other companies failed to meet their operating targets.
DITTO’s sustained performance is attributed to its risk diversification strategy: the company does not overly depend on any single customer group, instead spreading its portfolio across government, private sector, and state enterprises.
DITTO also diversifies into new business areas and continues to acquire new clients, thus maintaining growth even during economic downturns—an outcome reflected in this period’s satisfying results.
Since the start of this year, DITTO has entered into contracts for several new projects, mainly technology engineering works for its subsidiary Siam TC Company, with a combined project value of approximately THB 800 million. Including ongoing digital file management projects for entities such as courts and the BAAC (Bank for Agriculture and Agricultural Cooperatives), the company has secured around THB 900 million in new projects year-to-date.
Consequently, DITTO’s backlog now exceeds THB 4 billion, excluding recent bids for further projects at the Department of Lands, with results expected soon.
Looking ahead to 2Q25, DITTO expects continued earnings growth as the fiscal 2025 government budget begins to be disbursed, paving the way for the company to bid for several large-scale public sector projects.
The current robust backlog—both from projects in hand and continuously secured new contracts—totals more than THB 4 billion. The company also anticipates recognizing revenue from several large-scale, ongoing projects in 2Q25. DITTO is targeting annual revenue growth of 20-30% each year.
