Ocean Glass Plc expects revenues on par with 2008

Ocean Glass Plc expects its 2009 revenues will be similar to the figure for 2008 of THB 1.83 billion as global economic problems have affected the purchasing power of customers, the Bangkok Post repor…

Ocean Glass Plc expects its 2009 revenues will be similar to the figure for 2008 of THB 1.83 billion as global economic problems have affected the purchasing power of customers, the Bangkok Post reported. In the 1Q 2009, OGC forecast its revenue growth would drop slightly in line with the weak economy, particularly for exports. Export revenues represent 75% of its total. However, the glass manufacturer expects to see its export sales pick up again in the last quarter, which is the festive season. “Our exports will fall slightly because our main customers in south-east Asia have been less affected by the downturn than the United States and Europe”, said managing director Sunsanee Supatravanij. For the domestic market, OGC predicted weak hotel and restaurant industries would dampen sales. The total market was worth THB 1.8 billion in 2008 and OGC captured a 35% share. OGC reported a 2008 net profit of THB 95.9 million on revenues of THB 1.83 billion, compared with a net profit of THB 134 million on revenues of THB 1.67 billion the year before. Its total capacity is estimated at 150 million items a year. The company sees this as a good time to focus on brand strategy and communication with end-users. “Normally, big companies continue to build their brands even if the economic environment is poor because this represents a great opportunity to seize more market share from rivals”, Mrs Sunsanee said.