Thai Optical Group expects higher revenue

TOG recorded income of Bt1.32 billion from sales and services in the period and net profit of Bt173.97 million, up Bt14.81 million or 9.3 per cent from the same nine months last year. It earned Bt17.62 million from currency exchange and another Bt9.3 million in profit generated by its Poly Sun subsidiary.

Torn said TOG performed better this year than in the past because of a variety of positive factors, including growing sales of plastic lenses and the weak baht, the latter of which contributed to an increase in export sales revenue.

"Additionally, we began to record revenue from Poly Sun, a subsidiary that manufactures dyed, polarised and shaded lenses. These products allow TOG to expand our product range in response to domestic and overseas demand, putting us in a position of strength with Asean Economic Community integration set to start at the end of 2015.

"AEC nations still have a low number of people wearing the right optical aids, and this presents us with a massive growth opportunity."

TOG is focusing more of its business expansion efforts on AEC markets. Up to 96 per cent of its sales are currently generated from overseas markets, primarily in Europe, Australia, New Zealand, the United States, and the Asia-Pacific region.

For its AEC expansion, the company is offering products through joint ventures in Malaysia, Singapore and Vietnam. Further talks with potential partners are being conducted in Indonesia, the Philippines and Myanmar for future operations.

"We are confident of meeting our target for 2015 in terms of operating results and growth. We currently stand to surpass last year’s total income of Bt1.86 billion because of growing domestic and overseas demand for lens products. The additional income from Poly Sun will also strengthen our financial situation and enhance our readiness for future growth," Torn said.