Sino-Thai Engineering and Construction Public Company Limited (SET: STEC) has announced its 2022 consolidated financial statement through the Stock Exchange of Thailand as follows;
STEC reported a net profit of Baht 857 million in 2022, increased 20.61% from a net profit of Baht 710 million in 2021.
Total revenues for the year 2022 of Baht 30,572.55 million, increased by Baht 2,544.96 million from the year 2021, representing an increase by 9.08%. The increase in total revenues resulted from the economic recovery and the unfolding situation of the labor shortage issue. The major sources of revenue are from construction contracts, amounting to Baht 30,264.77 million, rental income, amounting to Baht 60.82 million, gain from fair value adjustment of investment properties, amounting to Baht 36.46 million, and dividend income, amounting to Baht 104.08 million.
