Simplex Infrastructures Ltd reported a Net sales for the full year FY08 at Rs28.12bn, increase by 64% over the previous year. For the quarter ended Q4FY08, sales at Rs9.48bn increased by 72% on a yoy basis and 34.8% on a qoq basis. For the full year FY08, operating margin of the company has remained flat at 9.5% while it has seen a decline in the fourth quarter at 8.6% from 9.5% in Q4FY07 and 10.0% in Q3FY08. The Net profit for the full year FY08 at Rs900mn.
With over 150 projects currently being undertaken and an order book position of the company over Rs100bn, the management has guided capex plans (machinery and equipments) of Rs2.0bn for FY09E to gear for the execution of the projects. The overseas business accounted for 17% of the FY08 revenues and 27% of the order book.
The power plant construction segment is expected to be a strong area in the future. The company has a diversified business model, which acts as a hedge against slowdown or project delays in any particular construction segment.