Team Consulting Engineering and Management Plc. (SET: TEAMG) shares hit price ceiling on Monday trade on investors optimism about 1Q22 earnings outlook, with a trading volume of more than THB700 million.
TEAMG shares gained THB2.05/share, or 29.93% to close at THB8.90/share, with a trading value of THB746 million.
Many brokers stated that TEAMG’s shares reached their price ceiling as a result of investors’ speculation on the company’s 1Q22 profits, which are forecast to be strong, as well as the service business unit’s limited risk to rising material prices.
TEAMG’s executive team anticipates revenue growth year over year, but flat quarter over quarter, as the company has consistently recognized revenue from backlog that has been delayed due to the COVID-19 epidemic.
The company’s current backlog is THB3,750 million, and it expects to generate revenue of roughly 30% in 2022. TEAMG plans adding new projects to its portfolio at an average annual rate of THB1,800-2,000 million, including the MRT Purple Line project, drainage tunnel work, and government infrastructure work, and many others.
