IRP expects to maintain growth momentum in revenues
24 Nov '07
3 min read
Indorama Polymers Public Company Limited (IRP) reports higher consolidated net profit after tax of Baht 265 million for the quarter 3, 2007 viz-a-viz Baht 208 million for the quarter 3, 2006.
EBITDA generated from operations is Baht 512 million for the quarter 3, 2007 viz-a-viz Baht 324 million for the quarter 3, 2006, a growth of 58%. The 9 month 2007 consolidation Net Profit was Baht 775 million or 30% higher than the same period last year.
In US$ terms the Group achieved 59 % growth in Net Profits of US$7.8 million in Q3, 2007 over corresponding quarter of the previous year and a growth of 57% for the 9 months ending 2007 over previous year.
The growth initiatives put in place in 2005 helped revenue growth to Baht 6,370 million viz-aviz Baht 2,948 million in Q3, 2006, a growth of 116% with plants operating at full capacity. The annualized earnings per share is Baht 0.75 per share.
IRP management views these results satisfactory in view of the continued high cost crude which has impacted the input cost of feedstock to logistics cost, and believes that its focused attention to customers needs allows IRP Group to operate its facilities at high operating rates and therefore mitigating the full impact of rising costs and the appreciating Baht.
UAB Orion Global Pet, Lithuania, a 100% owned subsidiary of IRP has received award from the Ministry of Economy, Republic of Lithuania in the category of "The Largest Greenfield Investment in Year 2006".
The plantis operating at high utilization rates and has been generating positive earnings from the very first quarter of commercial operations.
marketing@alchempro.com
