Digital consultancy Beryl 8 Plus Plc (BE8) posted revenue of 1.81 billion baht for the first nine months this year, a 285% increase, while profits grew by 139% to 213 million baht.
The company's third-quarter performance recorded net profit growth of 122% year-on-year with the net profit margin improving to 13.5%, driven by the company's management efficiency and synergy created amongst subsidiary companies, said Apisek Tewinpagti, chief executive of BE8.
Mr Apisek said the growth was driven by the consolidation of subsidiary companies BE8 invested in, including Extend IT Resource Co, Bay Computing Co, Vanilla and Friends Co, and Reconix Co.
The company also recorded strong growth in demand among customers for both its strategy and technology consulting service as well as its licence and subscription service.
He said the company generated 795 million baht in revenue for the first nine months from strategy and technology consulting, up 179% compared with the previous year's revenue of 285 million baht.
Revenue from licence and subscription service increased to 569 million baht, up 438% from the previous year's revenues of 106 million baht. Revenue from maintenance agreements and staff augmentation increased to 429 million baht, up 455% from the previous year's level of 77.3 million baht.
"We have begun working closely with our subsidiary companies to strategically optimise and increase the efficiency of projects," said Mr Apisek.
"This is reflected in our net profit margin improving to 13.5% as a result of expanding our service offerings to increase revenue per resource, and increase project management efficiency."
As of the third quarter, the company and its subsidiaries have total assets of 4.05 billion baht, an increase of 152 million baht, or 3.9% higher than the end of last year. The change was attributed to an increase in cash and cash equivalents as well as contractual assets.
BE8 has total debt of 1.27 billion baht, a decrease of 68.9 million baht, or 5.13% from the end of last year. Total debt at the end of last year was 1.34 billion baht after the company repaid its subsidiaries' debts.
The increase in assets and decrease in debt reflects the strength of the company's financial position, he said.