SNC Former sticks to 20% target despite plant costs
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SNC Former, a listed manufacturer and distributor of automotive and residential air-conditioners, is maintaining its full-year growth target of 20 per cent even though its results in the current quarter will be lower than in the first three months of the
Director Somboon Kedlin yesterday said the construction of facilities at the company’s subsidiaries, Scan and Sukimoto, was well under way and they would commence operations in the final quarter of the year.
Construction costs will affect SNC Former’s financial results in the current quarter, he added.
However, the company believes its current revenue-growth target of 20 per cent for this year is still achievable.
It posted revenue of Bt2.3 billion and net profit of Bt158.77 million in the first quarter, up 17 per cent and 29 per cent respectively from the Bt1.8 billion and Bt136 million generated in the same period last year.
Some Bt980 million of the first-quarter income was from air-conditioner assembly parts and chillers, Bt963 million from air-conditioners and Bt268 million from auto parts.
SNC Former reported revenue of Bt7.6 billion and net earnings of Bt493.81 million for the whole of last year.
Somboon said the first full year of operations at Scan, a producer of aluminium coil, would generate expected revenue of Bt200 million, followed by Bt400 million to Bt500 million in 2015.
“Scan will have a total production capacity to generate income of at least Bt1 billion when it operates at full capacity,” he said.
Meanwhile, the company may pay a lower 2012 dividend than last year’s because of the Bt400-million cost of constructing the Scan plant, the director said.
