Bangkok--8 Aug--Thai Optical Group
TOG moves forward with Prescription Lens Business focusing on major customers in Europe, Middle East, and Africa to fulfill the manufacturing capacity of "RX AUTOMATION" Phase 2 investment.
The Company's second-quarter revenue from sales and services of 463 million Baht, increased by 3% compared to that of the same period last year. Net profit is 14 million Baht, with 3% net profit margin, decreased by 50% from the previous year. Major factors of the net profit reduction contributed from the additional provision of employee benefits from the new labor law, one-time expense of sales office relocation, and the strengthening baht currency resulting in both lower gross margin and loss on the exchange.
The company's business plan for the second half of 2019 is to focus on an expansion of integrated prescription lens business with high gross margin, and major customers in Europe, Middle East, and Africa. Orders from these new accounts will fulfill the manufacturing capacity of "RX AUTOMATION" Phase 2 investment, which will commercially commence the operation in the first quarter of 2020.
Meanwhile, as the company receives the positive feedback from the new progressive lens product series "z design" which was launched earlier this year, the company plans to continuously launch the new product including new premium lens coating in early 2020 - revealed by Torn Pracharktam, Chief Executive Officer of Thai Optical Group Public Company Limited or TOG
About TOG
Thai Optical Group Public Company Limited (the Company) or TOG was established in 1991. TOG is Thailand's largest manufacturer and distributor of ophthalmic lenses and one of the leading independent global manufacturers. In addition to being the first Thai company to manufacture lenses for domestic and international original equipment manufacturers (OEMs), it markets the products under its own brand "TOG", "Excelite(TM)", "ONE", "DISCOVERY", "FREEDOM", "MAXIMA", "SHADE", "ZAPHIRE", "BLULOC", "ZENITH" and "ZENSE"
The company's core business comprises of four units: organic lens, mineral lens, prescription lens, and other products and services – including glass mold manufacturing for plastic lenses, hard coating, multi-coating, glazing service, and trading. The Company, with a registered capital of 475 million Baht, is a publicly listed company on the Stock Exchange of Thailand, using "TOG" as a trading ticker symbol.