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Managing director Prasit Ounvorawong yesterday said the company formerly expected its revenue to grow 20 per cent this year to Bt360 million, due to an adjustment of product prices in line with steel prices and the introduction of new purlin products early this year. However, Steel Intertech must keep an eye on the political situation, which will be the main factor affecting the company's business in the second half of the year.

"The political situation has influenced the investment outlook. The state's mega-projects have boosted confidence among investors in several industries. Our clients are in the property sector. Thus, if the situation grows worse, we'll have to revise our revenue target downwards for this year," he said.

He said the company's first-quarter revenue recovered year on year after the new government was formed. The gross profit margin also improved, from 14 per cent last year to 20 per cent in the first quarter. Sales revenue in the second quarter is slowing down but not significantly.

"The gross profit margin may fall to the same level as last year's, due to the political situation," he said.

Steel Intertech posted a first-quarter net profit of Bt4.29 million, up 194 per cent from Bt1.46 million in the same quarter last year.