• 
• 

Published on September 1, 2007

Assuming the target is reached and given the absence of provision for loss, the company expects to swing back into net profit this year, managing director Warawan Nganthavee said yesterday.

Asian Marine Services made a net loss of Bt6 million last year, when it set aside a loss provision of Bt13.5 million.

Warawan forecast that next year's revenue would rise by 20-30 per cent on the back of an expected increase in shipbuilding and ship-repair income.

The company is working on a Bt200-million repair contact, from which the revenue will be realised early next year.

It has a target that revenue from its shipbuilding business will be 40 per cent next year, from 20 per cent at present.

"Our ship-repairing service now accounts for 80 per cent of our total revenue, but this proportion will be shrunk to 60 per cent," she said.

Asian Marine Services will maintain its net profit margin at 8-10 per cent, she said. The gross margin for shipbuilding is relatively high at 30-40 per cent, she added.

Warawan acknowledged that the baht's appreciation had affected the company's revenue, as about 30 per cent of its income is in US dollar terms.

However, the impact is not that adverse as the company has hedged against currency risk.

The company hopes to pay a dividend for 2007 performance if it makes a profit and there are no big investment projects, she said.

Siriporn Chanjindamanee

 The Nation