Reported Earnings • Feb 24
Full year 2025 earnings released: EPS: ฿0.13 (vs ฿0.15 in FY 2024) Full year 2025 results: EPS: ฿0.13 (down from ฿0.15 in FY 2024). Revenue: ฿833.9m (down 25% from FY 2024). Net income: ฿138.4m (down 16% from FY 2024). Profit margin: 17% (up from 15% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 21
Dividend of ฿0.10 announced Dividend of ฿0.10 is the same as last year. Ex-date: 5th March 2026 Payment date: 30th April 2026 Dividend yield will be 8.3%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (67% earnings payout ratio) but not covered by cash flows (116% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 41% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 15
Third quarter 2025 earnings released: EPS: ฿0.04 (vs ฿0.035 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.04 (up from ฿0.035 in 3Q 2024). Revenue: ฿224.0m (down 24% from 3Q 2024). Net income: ฿41.4m (up 11% from 3Q 2024). Profit margin: 19% (up from 13% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Nov 14
Now 22% overvalued Over the last 90 days, the stock has fallen 7.1% to ฿1.04. The fair value is estimated to be ฿0.85, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 5.5%. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: ฿0.01 (vs ฿0.06 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.01 (down from ฿0.06 in 2Q 2024). Revenue: ฿115.7m (down 67% from 2Q 2024). Net income: ฿13.7m (down 79% from 2Q 2024). Profit margin: 12% (down from 19% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Reported Earnings • May 16
First quarter 2025 earnings released: EPS: ฿0.04 (vs ฿0.004 in 1Q 2024) First quarter 2025 results: EPS: ฿0.04 (up from ฿0.004 in 1Q 2024). Revenue: ฿176.7m (down 16% from 1Q 2024). Net income: ฿47.3m (up ฿42.9m from 1Q 2024). Profit margin: 27% (up from 2.1% in 1Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 22
Dividend increased to ฿0.10 Dividend of ฿0.10 is 100% higher than last year. Ex-date: 6th March 2025 Payment date: 8th April 2025 Dividend yield will be 7.7%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (50% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 2.9% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 21
Full year 2024 earnings released: EPS: ฿0.15 (vs ฿0.016 in FY 2023) Full year 2024 results: EPS: ฿0.15 (up from ฿0.016 in FY 2023). Revenue: ฿1.11b (up 34% from FY 2023). Net income: ฿165.7m (up ฿148.9m from FY 2023). Profit margin: 15% (up from 2.0% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 16% per year. Announcement • Feb 21
Bangkok Dec-Con Public Company Limited, Annual General Meeting, Mar 21, 2025 Bangkok Dec-Con Public Company Limited, Annual General Meeting, Mar 21, 2025, at 10:00 SE Asia Standard Time. Announcement • Feb 20
Bangkok Dec-Con Public Company Limited Proposes Cash Dividend for the Year Ended December 31, 2024, Payable on 08 April 2025 Bangkok Dec-Con Public Company Limited proposed cash dividend of THB 0.10 per share for the year ended December 31, 2024. Record date for the right to receive dividends is 07 March 2025. Ex-dividend date is 06 March 2025. Payment date is 08 April 2025. Reported Earnings • Nov 12
Third quarter 2024 earnings released: EPS: ฿0.03 (vs ฿0.007 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.03 (up from ฿0.007 in 3Q 2023). Revenue: ฿292.8m (up 79% from 3Q 2023). Net income: ฿37.3m (up 399% from 3Q 2023). Profit margin: 13% (up from 4.6% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: ฿0.06 (vs ฿0.001 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.06 (up from ฿0.001 in 2Q 2023). Revenue: ฿348.2m (up 31% from 2Q 2023). Net income: ฿64.8m (up ฿64.2m from 2Q 2023). Profit margin: 19% (up from 0.2% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Reported Earnings • May 11
First quarter 2024 earnings released: EPS: ฿0.004 (vs ฿0.006 in 1Q 2023) First quarter 2024 results: EPS: ฿0.004 (down from ฿0.006 in 1Q 2023). Revenue: ฿209.4m (up 21% from 1Q 2023). Net income: ฿4.40m (down 34% from 1Q 2023). Profit margin: 2.1% (down from 3.8% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Upcoming Dividend • Feb 29
Upcoming dividend of ฿0.05 per share Eligible shareholders must have bought the stock before 07 March 2024. Payment date: 23 April 2024. Payout ratio is on the higher end at 91% but the company is not cash flow positive. Trailing yield: 3.9%. Lower than top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (2.1%). Reported Earnings • Feb 24
Full year 2023 earnings released: EPS: ฿0.02 (vs ฿0.11 in FY 2022) Full year 2023 results: EPS: ฿0.02 (down from ฿0.11 in FY 2022). Revenue: ฿828.4m (up 7.3% from FY 2022). Net income: ฿16.8m (down 87% from FY 2022). Profit margin: 2.0% (down from 16% in FY 2022). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 24
Dividend reduced to ฿0.05 Dividend of ฿0.05 is 17% lower than last year. Ex-date: 7th March 2024 Payment date: 23rd April 2024 Dividend yield will be 3.2%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not adequately covered by earnings (91% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 4.8% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 1.6% to bring the payout ratio under control. However, EPS has declined by 38% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Nov 11
Third quarter 2023 earnings released: EPS: ฿0.007 (vs ฿0.022 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.007 (down from ฿0.022 in 3Q 2022). Revenue: ฿163.5m (up 18% from 3Q 2022). Net income: ฿7.48m (down 68% from 3Q 2022). Profit margin: 4.6% (down from 17% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. New Risk • Aug 12
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 11% Last year net profit margin: 19% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 4.1% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (11% net profit margin). Market cap is less than US$100m (฿1.98b market cap, or US$56.4m). Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: ฿0.001 (vs ฿0.027 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.001 (down from ฿0.027 in 2Q 2022). Revenue: ฿265.9m (up 180% from 2Q 2022). Net income: ฿586.1k (down 98% from 2Q 2022). Profit margin: 0.2% (down from 31% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ฿2.38, the stock trades at a trailing P/E ratio of 20.7x. Average trailing P/E is 28x in the Consumer Durables industry in Thailand. Total returns to shareholders of 16% over the past three years. Upcoming Dividend • Mar 02
Upcoming dividend of ฿0.06 per share at 2.4% yield Eligible shareholders must have bought the stock before 09 March 2023. Payment date: 27 April 2023. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 2.4%. Lower than top quartile of Thai dividend payers (5.7%). Lower than average of industry peers (2.8%). Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ฿2.90, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 27x in the Consumer Durables industry in Thailand. Total returns to shareholders of 34% over the past three years. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 7 experienced directors. 2 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Araya Yommana was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improved over the past week After last week's 20% share price gain to ฿2.76, the stock trades at a trailing P/E ratio of 22.7x. Average trailing P/E is 36x in the Consumer Durables industry in Thailand. Total returns to shareholders of 6.7% over the past three years. Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: ฿0.03 (vs ฿0.017 loss in 2Q 2021) Second quarter 2022 results: EPS: ฿0.03 (up from ฿0.017 loss in 2Q 2021). Revenue: ฿95.0m (up 41% from 2Q 2021). Net income: ฿27.0m (up ฿44.9m from 2Q 2021). Profit margin: 28% (up from net loss in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 7% per year. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ฿2.72, the stock trades at a trailing P/E ratio of 34.1x. Average trailing P/E is 31x in the Consumer Durables industry in Thailand. Total returns to shareholders of 2.2% over the past three years. Valuation Update With 7 Day Price Move • May 27
Investor sentiment improved over the past week After last week's 23% share price gain to ฿3.26, the stock trades at a trailing P/E ratio of 40.9x. Average trailing P/E is 33x in the Consumer Durables industry in Thailand. Total returns to shareholders of 21% over the past three years. Reported Earnings • May 15
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: ฿0.01 (down from ฿0.018 in 1Q 2021). Revenue: ฿319.0m (up 283% from 1Q 2021). Net income: ฿12.5m (down 35% from 1Q 2021). Profit margin: 3.9% (down from 23% in 1Q 2021). Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) missed analyst estimates by 38%. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • May 13
Bangkok Dec-Con Public Company Limited Announces Board Changes The Board of Directors of Bangkok Dec-con Public Company Limited at a meeting on May 11, 2022 has resolved to approve the appointment of new directors to replace those who resigned. The details are as follows. Acknowledged Mr. Sarayut Saengchan resigned from the position of Audit Committee and Independent Director. with effect from May 12, 2022 onwards. Appoint Mrs. Araya Yommana to take the position of Audit Committee and Independent Director to replace Mr. Sarayuth Saengchan, the resigned director. with effect from May 12, 2022 onwards. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 2 highly experienced directors. 2 independent directors (8 non-independent directors). Independent Director Sarayuth Saengchan was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improved over the past week After last week's 27% share price gain to ฿3.00, the stock trades at a trailing P/E ratio of 34.9x. Average trailing P/E is 32x in the Consumer Durables industry in Thailand. Total returns to shareholders of 14% over the past three years. Upcoming Dividend • Mar 03
Inaugural dividend of ฿0.05 per share Eligible shareholders must have bought the stock before 10 March 2022. Payment date: 28 April 2022. The company is not currently making a profit and is not cash flow positive. The company last paid an ordinary dividend in March 2020. The average dividend yield among industry peers is 4.8%. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: ฿0.09 (up from ฿0.083 loss in FY 2020). Revenue: ฿437.6m (flat on FY 2020). Net income: ฿92.4m (up ฿182.3m from FY 2020). Profit margin: 21% (up from net loss in FY 2020). Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) missed analyst estimates by 38%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Announcement • Feb 26
Bangkok Dec-Con Public Company Limited Proposes Dividend, Payable on April 28, 2022 Bangkok Dec-Con Public Company Limited announced meeting of the Board of Directors of the company No. 1/2022, which was held on February 25, 2022 has the following significant resolutions. Resolved to propose to the shareholders' meeting Consider and Approve the dividend paying from the year 2021 performance at the rate of THB 0.05 per share. Which will determine the list of shareholders entitled to receive dividends (Record Date) on March 11, 2022 and is scheduled to be paid on April 28, 2022. Announcement • Jan 07
Seven Utilities and Power Public Company Limited (SET:7UP) acquired additional 40% stake in Gold Shores Company Limited from Bangkok Dec-Con Public Company Limited (SET:BKD). Seven Utilities and Power Public Company Limited (SET:7UP) entered into an agreement to acquire additional 40% stake in Gold Shores Company Limited from Bangkok Dec-Con Public Company Limited (SET:BKD) for THB 550 million on July 9, 2021. Under the terms, 2.6 million shares will be acquired as a part of the transaction. . The first installment of THB 27.5 million will be paid on the contract date (within June 21, 2021), the second installment of THB 122.5 million will be completed by June 30, 2021 and the remaining amount of THB 400 million within September 2021. As of September 30, 2021, the buyer and seller negotiated and agreed to extend the final payment period from the original due date within September 2021 and extended to December 24, 2021. The Board of Directors' meeting of Bangkok Dec-Con held on July 9, 2021, passed resolution approving this transaction. Bangkok Dec-Con will use the proceeds from sale of shares in the tap water business as working capital for business to increase the potential for income growth and create returns to the shareholders of the company in the future. As of January 6, 2021, Bangkok Dec-Con Public Company Limited (SET:BKD) received THB 550 million as a part of consideration.
Seven Utilities and Power Public Company Limited (SET:7UP) completed the acquisition of additional 40% stake in Gold Shores Company Limited from Bangkok Dec-Con Public Company Limited (SET:BKD) on January 6, 2022. Reported Earnings • Nov 15
Third quarter 2021 earnings released: ฿0.02 loss per share (vs ฿0.041 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: ฿89.0m (up 38% from 3Q 2020). Net loss: ฿21.5m (loss narrowed 52% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Announcement • Jun 17
Seven Utilities and Power Public Company Limited (SET:7UP) entered into an agreement to acquire additional 40% stake in Gold Shores Company Limited from Bangkok Dec-Con Public Company Limited (SET:BKD) for THB 550 million. Seven Utilities and Power Public Company Limited (SET:7UP) entered into an agreement to acquire additional 40% stake in Gold Shores Company Limited from Bangkok Dec-Con Public Company Limited (SET:BKD) for THB 550 million on July 9, 2021. Under the terms, 2.6 million shares will be acquired as a part of the transaction. . The first installment of THB 27.5 million will be paid on the contract date (within June 21, 2021), the second installment of THB 122.5 million will be completed by June 30, 2021 and the remaining amount of THB 400 million within September 2021. The Board of Directors' meeting of Bangkok Dec-Con held on July 9, 2021, passed resolution approving this transaction. Bangkok Dec-Con will use the proceeds from sale of shares in the tap water business as working capital for business to increase the potential for income growth and create returns to the shareholders of the company in the future. Reported Earnings • May 14
First quarter 2021 earnings released: EPS ฿0.02 (vs ฿0.004 loss in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: ฿83.2m (down 35% from 1Q 2020). Net income: ฿19.0m (up ฿23.8m from 1Q 2020). Profit margin: 23% (up from net loss in 1Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 28
Full year 2020 earnings released: ฿0.08 loss per share (vs ฿0.08 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: ฿436.9m (down 42% from FY 2019). Net loss: ฿89.8m (down 205% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 90% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Announcement • Feb 26
Bangkok Dec-Con Public Company Limited, Annual General Meeting, Apr 30, 2021 Bangkok Dec-Con Public Company Limited, Annual General Meeting, Apr 30, 2021, at 10:00 SE Asia Standard Time. Location: Richmond Hotel, 69 / 783-787, Rattanathibet Rd. Nonthaburi Thailand Agenda: To certify the Annual General Meeting of Shareholders No. 1/2020; To approve the annual financial statements Ended December 31, 2020; To consider and approve the profit allocation And no dividend payment; To consider and approve the appointment of directors to replace those retiring by rotation agenda; To consider and approve remuneration for directors; To consider and approve the appointment of auditors and determination of remuneration for the examination Accounting for the period of the year 2021; and Other matters (if any). Is New 90 Day High Low • Feb 25
New 90-day low: ฿1.72 The company is down 10.0% from its price of ฿1.91 on 27 November 2020. The Thai market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 10.0% over the same period. Is New 90 Day High Low • Feb 03
New 90-day low: ฿1.76 The company is down 7.0% from its price of ฿1.89 on 05 November 2020. The Thai market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 12% over the same period. Is New 90 Day High Low • Jan 18
New 90-day low: ฿1.80 The company is down 10.0% from its price of ฿1.99 on 20 October 2020. The Thai market is up 26% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 16% over the same period. Is New 90 Day High Low • Dec 21
New 90-day low: ฿1.81 The company is down 8.0% from its price of ฿1.96 on 22 September 2020. The Thai market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 16% over the same period. Announcement • Dec 10
Nitiwath Thipakkarayod acquired an additional 9.99% stake in Bangkok Dec-Con Public Company Limited (SET:BKD) from Natthanun Prasongchaikul. Nitiwath Thipakkarayod acquired an additional 9.99% stake in Bangkok Dec-Con Public Company Limited (SET:BKD) from Natthanun Prasongchaikul on December 4, 2020. After transaction Natthanun will hold 14.4% stake and Nitiwath will hold 12.81% stake.
Nitiwath Thipakkarayod completed the acquisition of an additional 9.99% stake in Bangkok Dec-Con Public Company Limited (SET:BKD) from Natthanun Prasongchaikul on December 4, 2020. Reported Earnings • Nov 14
Third quarter 2020 earnings released: ฿0.04 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: ฿64.3m (down 55% from 3Q 2019). Net loss: ฿44.5m (down ฿49.7m from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 80% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 05
New 90-day low: ฿1.89 The company is down 4.0% from its price of ฿1.96 on 07 August 2020. The Thai market is down 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Consumer Durables industry, which is up 2.0% over the same period. Announcement • Sep 09
Seven Utilities and Power Public Company Limited (SET:7UP) completed the acquisition of additional 40% stake in Gold Shores Company Limited from Bangkok Dec-Con Public Company Limited (SET:BKD) for THB 550 million. Seven Utilities and Power Public Company Limited (SET:7UP) entered into an agreement to acquire additional 40% stake in Gold Shores Company Limited from Bangkok Dec-Con Public Company Limited (SET:BKD) for THB 550 million on July 9, 2020. Under the terms, 2.6 million shares will be acquired as a part of the transaction. The first installment of THB 15 million will be deposited on the date of share trading agreement, the second installment of rest of the payment will be completed by January 2021. Bangkok Dec-Con will use the proceeds from sale of shares in the tap water business as working capital for business to increase the potential for income growth and create returns to the shareholders of the company in the future.
Seven Utilities and Power Public Company Limited (SET:7UP) completed the acquisition of additional 40% stake in Gold Shores Company Limited from Bangkok Dec-Con Public Company Limited (SET:BKD) on September 3, 2020 
