Star Sanitaryware on track
The SET-listed Star Sanitaryware Plc expects to achieve this year’s 200-millionbaht revenue target or 40% growth.
Next year’s target has been set at 250 million baht or 25% growth.
Last year, the sanitaryware maker and distributor took in revenue of 146 million baht for a net loss of 14.3 million, its worst financial performance to date, due to higher costs and lower selling prices.
In the first half of 2013, revenue totalled 96.9 million baht, up by 36.9% year-onyear, for a net profit of 715,000 baht.
‘‘Revenue has improved on expansion of the local market. More active marketing and the government’s sanitaryware standards have also boosted company revenue,’’ said president Somchai Wongaroon.
He said Thailand imported 1 billion baht worth of sanitaryware from China last year, but 95% did not meet industrial standards.
‘‘Local orders increased drastically in the first half, contributing 54% of revenue compared with 30% for the period over the past decade,’’ said Mr Somchai.
He said the proportions of local and foreign customers were evenly balanced.
New innovative products will be introduced between now and next month, said Mr Somchai.
Greater emphasis will be placed on upcountry markets via modern trade outlets, with its products available in Thai Watsadu, Home Pro and Boonthavorn.
Star will also expand into other Asean markets, particularly the Philippines, Vietnam, Cambodia and Myanmar, where demand for high-grade sanitaryware is growing strongly.
‘‘The focus will be on Myanmar and Cambodia, as these two countries don’t have their own sanitaryware producers. Indonesia is another target,’’ said Mr Somchai.