TPI Polene (TPIPL), Thailand’s third largest cement firm, said on Friday its second quarter net profit more than doubled, beating analysts’ expectations.
TPIPL’s April-June net profit rose to THB877.7m ($26.11 million) from TH342ma year earlier, the company said in a statement.
It was higher than a THB769m net profit in the first quarter.
Broker Kim Eng Securities had forecast a second quarter net profit of THB547m.
The company’s six-month net profit rose to THB1.65bn from THB1.47bn in the same period last year.
Sales in the second quarter rose 10 per cent to THB5.9bnand gross margin for the quarter improved slightly to 24.39 per cent from 24.26 per cent.
The quarter included a 119.1 million baht gain from foreign exchange, up from a foreign exchange gain of THB99m of last year. Interest expenses were THB111.5m, down 70 per cent from last year, the company said.