Another Record Year for B-Quik
2005 was another record year for B-Quik, the Thailand based tyre and car services retailer. The company serviced over 200,000 customers through its total of 42 centres, four of which were new stores, opened during 2005.
Despite the slightly declining aftermarket for passenger car tyres in Thailand (-1.2 per cent), B-Quik posted a 16 per cent increase in tyre unit sales. Total revenue increased by 19 per cent to a record amount of 826 million baht (£11.97 million or 17.5 million euros).
Operating profit (EBIT) jumped to 35 million baht (£508,778 or 744,000 euros). The profit growth is impressive, especially when taking into consideration the heavy additional spending in Q4 on TV commercials of 15 million baht (£218,820 or 320,000 euros).
The B-Quik TV commercials, launched in September 2005, created a massive jump in brand awareness, with that of the B-Quik brand reaching a record 97 per cent in the Q4 market surveys of AC Nielssen.
The 2005 results clearly show the shift in Thailand from a traditional market to a more mature, modern service retail environment. In 2006 B-Quik plans to build another 6 service centres in the greater Bangkok area to ensure full market coverage.
Ms Bussararat, COO of B-Quik, said: “B-Quik is the only independent service provider in the greater Bangkok area, which gives us an edge on all competitors who are all tied up with tyre manufacturers and/or oil companies. Our independence allows us to focus on customers instead of focusing on products and the results are clear. We’re the fastest growing, most successful, next generation of car service business and Thai motorists appreciate that.”
“2005 was another remarkable year for B-Quik,” said Henk J Kiks, CEO. “We grew our business by 23 per cent, generated record profits and for the 6th consecutive year achieved record revenues.”