Thai TPI Polene Q3 net profit down

Thai TPI Polene Q3 net profit down
Published: 13 October 2004

TPI Polene PCL, Thailand’s third largest cement maker, said on Tuesday its third-quarter net profit fell 94 percent on the year due mainly to foreign exchange losses and a fall in domestic cement prices.  TPIP, a unit of Thai Petrochemical Industry (TPI.BK), the country’s largest corporate defaulter, reported a net profit of 141 million baht ($3.42 million) for the July-September period versus 2.36 billion baht profit in the same period last year.  Its third-quarter operating profit was down 50.67 percent to 514 million baht, it said in a statement which gave no details of the foreign exchange losses.