TTW posts huge increase in earnings

 In the period, its net profit rose from Bt694 million to Bt974.7 million.

 In the third quarter alone, its revenue totalled Bt936.5 million, up 15 per cent on year. Its net profit of Bt360 million rose 49.1 per cent, from Bt241 million on year.

 Sompodh Sripoom, managing director, attributed the better performance to lower interest expenses, due to the retirement of short-term loans. Meanwhile, in the quarter, the company also commenced the operation of the new water-filtering plant, which added its supply capacity by 10,000 cubic metres a day to 310,000 cubic metres. Its revenue also rose because the Provincial Waterworks Authority started buying 50,000 cubic metres at full price, under the concession. Earlier, PWA was entitled to a 55 per cent discount.

 "We expect that our fourth-quarter performance would be close to the third quarter results due to the reasons," he said.

 The company's board recently approved the company's plan to sell additional 100,000 cubic metres of tap water per day to the PWA, and the plan to issue bonds worth no more than Bt1.5 billion to finance capacity expansion.