Interhides sets ambitious target for car upholstery sales

Auto & Audio January 07, 2014 00:00

By The Nation

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Interhides expects sales of leather car upholstery to reach between Bt2.2 billion and Bt2.3 billion this year in line with the projected growth of the auto, footwear and furniture markets here and in Asean.

Ong-Art Damrongskulwong, president and managing director of IHL, said yesterday that weakened economic growth and the domestic political situation had braked auto sales last year.

IHL expects operating results for the fourth quarter of 2013 to improve over third-quarter sales of Bt404.73 million and net profits of Bt36.36 million, especially with carmakers launching promotional campaigns to boost sales.

The company’s figures for the first nine months were Bt1.37 billion in sales and Bt152.04 million in net profit.

IHL admits the sales target for this year is ambitious, but it is confident it can achieve them as the domestic auto industry is improving. Toyota has said it is planning to ramp up output by 10 per cent this quarter.

IHL feels it is important to maintain last year’s profit margin of 21-22 per cent.