Thai TPI Polene Q3 net profit down on forex loss

Thai TPI Polene Q3 net profit down on forex loss
Published: 24 October 2007

TPI Polene (TPIPL), Thailand’s third largest cement firm, said on Wednesday its third quarter net profit fell 39 per cent due to a foreign exchange loss.  
 
TPIPL’s July-September net profit was THB449.7m (US$13.17m) compared with THB735.6m a year earlier, the company said in a statement.  
 
The quarterly profit was below the THB877.7m net profit of the second quarter and included a THB71m  foreign exchange loss compared with a THB368m foreign exchange gain a year earlier, it said.  
 
Third quarter sales rose 15.7 per cent to THB6.9bn and EBITDA fell three per cent to THB988m, it said.  

Cement and ready mixed concrete account for about two-thirds of company sales. 
 
The company’s nine-month net profit was THB2.10bn.