Although the total market shrank by 15 per cent in the first quarter, the company's revenues expanded by 18.55 per cent to Bt663.88 million from the same quarter last year.

CEO Chamnarn Pornpilailuck said yesterday his company was not hit severely by the economic slowdown here because its customers were international firms. However, the fluctuation of raw material prices eroded its gross margin from 8.7 per cent in the first three months last year to 6.8 per cent in the same period this year.

"But we decided to hedge funds for the first time this year in order to reduce this risk and to try to maintain our average margin at 8-12 per cent for the whole year," he said.

New airport plan

Civil Aviation Department director-general Chaisak Angkasuwan said his agency was hiring Kasetsart University for feasibility studies on constructing a second airport on Koh Samui, to meet higher demand of passengers in the long term.

The study is focusing on the break-even point for the investment and the environmental impact before beginning public hearings. The whole process is expected to take one year. He said the existing airport, owned by Bangkok Airports, could not expand the runway easily as it is surrounded by high trees.

The second airport would feature a 2,000-metre-long runway and could accommodate huge aircraft like the Boeing 747-400, and is expected to cost Bt1.7 billion.

However, Bannawit Kengrian, head of the National Legislative Assembly, said the island should expand the current airport because it could be a huge cost-saving.

A top executive of Bangkok Airways said the government should invite private companiesto invest in the airport.

Net profit surges

The first-quarter net profit of Diamond Roofing Tiles (DRT) surged 38.59 per cent to Bt107.93 million, due partly to greater penetration into international markets.

The company posted Bt657.58 million in revenues for the first quarter, up from last year's Bt596.25 million. Sales also rose by 10.29 per cent, Satid Sudbuntad, vice president of sales and marketing, said yesterday.

After bagging the Best Booth award for creativity in the roofing-tiles industry at the Architect Fair 2007 held recently at Impact Muang Thong Thani, DRT plans to launch a series of innovative products to boost its sales by focusing more on the middle an high-end market.