Gift Infinite Public Company Limited (GIFT) revealed its third quarter performance, showcasing a high-potential turnaround from the investment and share purchase in “A Lot Tech Co., Ltd.,” the competent distributor of SIM cards, IT products, and IoT devices that is consistently growing. The company registered over 178 million baht in revenue this quarter, or a 1,148% growth from the second quarter, and 21.5 million baht in net profit, or a 1,378% growth on a quarter-on-quarter basis. The performance in the next quarter is expected to skyrocket according to its planned business expansion plan.
Mr. Surachai Chetchotisak, Chief Executive Officer, Gift Infinite Public Company Limited (GIFT), said: “GIFT’s tremendous growth in both revenue and profit evidently indicated the positive prospect of our business turnaround, under the new management team of less than one-year appointment, coupling with their clear vision and business expansion plan. The company’s revenue in the third quarter came from the investment in the subsidiary ‘A Lot Tech Co., Ltd.,’ an IT equipment distribution business whose focus is on revenue generation from online distribution channels, which is in line with the behaviors of people in this Digital Age. Additionally, GIFT also earned additional revenue from other asset management and investment, totaling to GIFT’s Q3 revenue of 178 million baht, or a 1,148% growth, and net profit of 21.5 million baht, or a 1,378% growth from the previous quarter. The recent performance definitely reflected our first and strong success in turning the business around as planned. By continuing the company’s investment and expansion plan for the business units Hospitality, Wellness & Beauty, and Food & Beverage, the management is confident that GIFT will generate as high as 700 million baht in revenue by the end of this year and expects that the continuous growth will bring the company onto the New S-Curve with two billion baht within 2024”
On another note, Gift Infinite had a consensus in issuing GIFT-W2 at the rate of 3:1, with a one-year term and the conversion right, exercisable every 6 months at 1.6 baht/share. The XW date was set on 20 December 2023.
For more information and updates of Gift Infinite, please visit www.giftinfinite.co.th