Ocean Glass Public Company Limited report had net sales of THB 1,825.61 million for the year ended 31 December 2008, up THB 162.74 million or 9.79% year-on-year.
This was mainly due to a volume incre…
Ocean Glass Public Company Limited report had net sales of THB 1,825.61 million for the year ended 31 December 2008, up THB 162.74 million or 9.79% year-on-year. This was mainly due to a volume increase of 4.0% and price increase of 5.5%. Gross profit was THB 643.83 million or 35.27% of sales higher than for 2007 as the company was able adjust prices to cover rising costs. Net profit was THB 95.98 million, down THB 38.41 million or 28.58% from the same period 2007, because of higher sales promotion expenses, increased administrative expenses from commercial production of the Cyrstalline glass capacity expansion project, and the loss from foreign exchange. Total assets at 31 December 2008 were THB 2,878.36 million, up THB 419.17 million from the end of 2007. The increase came mainly from the investment of fixed assets in the Crystalline glass capacity expansion project. In response to the global economic crisis, the company recently implemented several urgent measures: focusing sales on export markets that still have purchasing power; enhancing production efficiency to reduce costs; and cutting and strictly controlling expenses.