Bangkok--14 May--Master Mind Communications
SGP’s Golden Year Sees Q1 Striking Performances, with over THB 10bn in Sales & Historically High Profit Figure; Growing Trend of LPG Demands Forecasted to Allow 30% Jump in Sales & New-high Profit This Yearend
SGP announced impressive results for Q1/2012, recording a 30% increase in sales to THB 11.322 billion and a 146% jump in profits to THB 747 million. The Company also began to reap hefty seasonal revenue and profits from its overseas storage facilities in China, and expressed confidence that the rising local and international gas (LPG) demands will allow it to record another 30% sales growth this yearend.
Mr Supachai Weeraborwornpong, Managing Director of Siam Gas and Petrochemicals Public Company Limited, or SGP, announced his company’s results in the first quarter of this year (Jan-Mar’12). The Company recorded a sales figure of THB 11.322 billion, a 30% year-on-year increase from THB 8.689 billion, and a net profit figure of THB 747 million, a 146% year-on-year increase from THB 304 million.
SGP’s outstanding financial results in the first quarter were largely attributable to the sales growths in both local and overseas markets, which stood at 5% and 8%, respectively. In the same quarter, the Company benefited from its liquefied petroleum gas, LPG, storage facilities in Zhuhai and Shantou, China, which have the highest aggregate storage capacity in East Asia at 300,000 tonnes and permit seasonal profit-making. This reflects its great efficiency in inventory management and in demand forecasting.
“The decision in acquiring the largest storage facilities in China proved a wise investment choice. Last year, SGP became China’s No 1 importer and exporter and a leading wholesaler in East Asia’s LPG market. This will help us in marketing going forward. Today we are the supplier of LPG to many major LPG distributors in China and Southeast Asian countries. The investment decision has begun to pay off, as it has been a significant factor that contributed to our success in achieving the profitability goal over the last season”, he said.
He added that 2012 will be his company’s ‘Year of Golden Harvest’, as it seeks to enjoy further revenue and profitability growths in both the local and international markets, which have been made possible by last year’s overseas business expansion. The customer trust and confidence, the regional leadership in the LPG industry, as well as the experience and expertise in cost and warehouse management are expected to contribute to the Company’s achievement this year in breaking the revenue goal at THB 50 billion and recording an annual profit figure that hits an all-time record high. And with the current 300,000-tonne capacity of its Chinese facilities and the possibility of boosting the same to an even higher level to increase sales, the Company is highly confident of sustaining impressive growth rates in revenue and profitability in the coming years.