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Article: TPI Polene swings to profit.
- Article from:
- Australasian Business Intelligence
- Article date:
- July 30, 2002
CopyrightCOPYRIGHT 2002 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Jul 30, 2002 (The Asian Wall Street Journal
ABIX via COMTEX) -- TPI Polene has recorded a net profit of 403.7 million baht ($US9.8 million) for the second quarter of 2002. By way of comparison, Thailand's third-biggest cement maker posted a loss of 505.9 million baht in the previous corresponding period. The improved result was attributed to lower interest costs and foreign exchange gains, with its sales revenue actually falling 24 per cent to 3.05 billion baht. In February 2002, Siam City Cement, Thailand's second-biggest cement maker, acquired a 77 per cent stake in TPI Polene from its parent company, Thai Petrochemical Industry.
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