After an analyst’s meeting recently with TPI Polene (TPIPL), earnings are estimated to be boosted in 4Q04 with a normal profit of Bt677m (EPS Bt0.86), an increase of 32 per cent qoq, but a decrease of 27 per cent yoy. In 4Q04, TPIPL will not have any extra maintenance expenses and will enjoy a forex gain of Bt868m. TPIPL will have a net profit of Bt1454m(EPS Bt1.96), an increase of 992 per cent qoq and 61 per cent yoy.
TPIPL debt has continued to fall. After a capital increase and with cash from operations, the company should have reduced debt to Bt28 billion by year-end from Bt46 billion at the end of 2003. Currently, the company has 8 remaining creditors with debt totaling Bt2709m, which are still under negotiation.
The trend going forward is bright for 4Q04, although there could be some conflict with creditors,