TPI Polene , Thailand’s third largest cement firm, said on Thursday it expected growth in net profit this year, despite analyst forecasts of a fall, due to lower energy costs.
Revenues would be flat or increase slightly, chairman Prachai Leophairatana said in an interview.
Thailand’s cement demand would be flat this year after the central bank imposed capital controls in December which deterred foreign investors, dampening the domestic economy and construction industry, he said.
"Our bottom line should be better than last year’s, but sales should be around the level of last year or slightly higher," Prachai told Reuters.
TPI Polene is the country’s third biggest cement firm, with a production capacity of 9Mt, after Siam Cement and Siam City Cement , a 32 per cent owned unit of Holcim .