Thai Steel Cable (TSC) announced recovering 2Q09 earnings of Bt23mn (EPS Bt0.09), up 121% qoq, but still slumping 62% yoy. These Bt23mn earnings were from a rather low base impacted by the weak auto industry with production cuts and shutdowns. Sales have remained low at Bt365mn, down 38% yoy, although slightly up 2% qoq. This fall was inline with auto and motorcycle production falls of 46% and 39%, respectively, in the second quarter. The gross margin improved to 17% from 12% in the previous quarter from better cost savings but down from a normal 20% last year from the lower utilisation. The S. G. & A. was low qoq at Bt43mn, while down from last year on the 32% slump in sales and came from cost control activities. Interest was zero as TSC is a debt free operation.
Thai Steel Cable 2Q 2009 earnings recover qoq but still slump
The Thaivest Editorial Team is a dedicated group of writers and editors with a passion for Thailand's vibrant economy, culture, and lifestyle. With diverse backgrounds in finance, economics, and journalism, we provide valuable insights into living well in Thailand, making money online, and practical tools for navigating its dynamic market. Our mission is to keep our readers informed about the latest developments, opportunities, and challenges in Thailand's economic and cultural landscape. Stay connected with Thaivest for reliable, well-rounded coverage of all things Thai.
All posts byThaiVest Editorial Team
Leave a reply
You Might Also Like
The Demographic Advantage: Why Southeast Asia’s Economic Future Looks Promising
ThaiVest Editorial TeamApril 13, 2023
Southeast Asia's economic future looks promising, largely due to its demographic advantage. With a young and dynamic workforce, a burgeoning middle class, and rapid urbanization, the region is poised for sustained growth and development in the coming years. Discover how these factors contribute to Southeast Asia's bright economic prospects.
Thailand Retirement Ranking Improving
Joe MillerDecember 5, 2022
To see the Thailand Retirement Ranking improving delighted the Thai Prime Minister Prayut Chan-o-cha said government spokesman Anucha Burapachaisri. In...
Thai Stock Market Analysis May 9, 2022: How Much Lower Will the the SET fall?
Joe MillerMay 9, 2022
Ugly Trading Session Leaves Thai Stock Market Index in Murky Waters The Thai stock market had recently done remarkably well...