TPI Polene TPIPL 4Q06 net profit up 86.4% YoY but down 31.5% QoQ

TPI Polene TPIPL 4Q06 net profit up 86.4% YoY but down 31.5% QoQ
Published: 30 January 2007

TPI Polene’s 4Q06 results were in line with the market consensus but higher than expected due to extra gains on foreign exchange of Bt342m. The core profit was Bt207mn, up 281% YoY due to lower interest burden after raising equity to reduce debt in August 2006, but down 47% QoQ due to slow cement demand from residential property and the flooding, combined with low petrochemical spread. The brighter outlook for 2007 depends mainly on the success of refinancing and investment plan.