For the 3Q 2007, Thailand“s Ocean Glass Public Company Limited posted net sales of THB 389.11 million, up 17.96% year-on-year, and net profit of THB 29.62 million, up THB 21.82 million or 279.74% hig…
For the 3Q 2007, Thailand“s Ocean Glass Public Company Limited posted net sales of THB 389.11 million, up 17.96% year-on-year, and net profit of THB 29.62 million, up THB 21.82 million or 279.74% higher year-on-year. Behind the rise was a 26% increase in sales. While the average selling price on the export market increased it was not enough to compensate for the appreciation of the Thai baht over the same period. As a result, the average price in baht terms fell about 7%. For the first nine-months of 2007, net sales were THB 1,140.59 million, up 6.65% year-on-year while net profit was THB 75.20 million, up THB 7.89 million or 11.72% year-on-year. Average production costs fell about 10% thanks to greater manufacturing efficiency, resulting in an a rise in the gross profit margin from 29.54% to 31.68% of sales. Sales and administrative expenses recovered from a machine shutdown expense in the same period 2006.