It enjoyed a net profit of Bt22.83 million, up from Bt3.64 million in the same period last year, thanks to cheaper raw materials like copper and reduced administrative expenses.

It enjoyed first-quarter revenues of Bt335.57 million, up 39.7 per cent year on year, due to increasing its product prices since the end of last year and greater efficiency in internal management.

Executive director Theera Poomsanoh said the firm expected its second-quarter results to grow more, because it was the peak season for air-conditioner sales. Moreover, it will receive more orders from its partners in foreign markets.

Recently, it used Bt11 million to purchase a 35-per-cent share in AVV, another Thai coil producer.

Theera said 30 per cent of AVV shares were held by an Indian company; hence, it would support an expansion of its customer base abroad, particularly in the Middle East, which is undergoing rapid construction and infrastructure growth.

The company expects to reach the break-even point from this investment within two years.

Chalida  Ekvitthayavechnukul

The Nation