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Export-reliant Ocean Glass expects flat revenue trend

Post Time:Apr 02,2009Classify:Company NewsView:291

Ocean Glass Plc (OGC) expects its 2009 revenues will be on par with last year's 1.83 billion baht as global economic problems have affected the purchasing power of customers.

In the first quarter of this year, OGC forecast its revenue growth would drop slightly in line with the weak economy, particularly exports. Export revenues represent 75 percent 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 Southeast 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 1.8 billion baht last year, and OGC captured a 35 percent share.

OGC reported a 2008 net profit of 95.9 million baht on revenues of 1.83 billion, compared with a net profit of 134 million baht on revenues of 1.67 billion the year before.

Its total capacity is estimated at 150 million pieces 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," Sunsanee said.

OGC shares last traded on the Stock Exchange of Thailand at 36.50 baht.

Source: Bangkok PostAuthor: shangyi

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