Diamond cuts prices of building materials
Construction raw-material manufacturer Diamond Building Products has lowered its prices by 3-5 per cent under the government policy to fix the price of the raw materials.
The company's sales in the third quarter of the year dropped due to the heavy rains and floods in several provinces, he said.
However, the company expects the market to recover in the fourth quarter of this year when people get down to renovating their residences after the floods.
To support business growth in the fourth quarter of this year, the company has joined with UK-based Hadley Group to develop a fibre cement board called Diamond Wall. This will replace the traditional construction process in which bricks and cement are used to build walls. Diamond Wall will be easy to set up and the cost will be 30-40 per cent lower per square metre compared to the traditional construction process, he said.
The company expects Diamond Wall and its other new products to generate about 40 per cent of total revenue in the next three to five years, he said.
Currently, 80 per cent of its total revenue comes from roof products, while the balance comes from construction products.
Meanwhile, the company aims to maintain its growth target of at least 10 per cent this year over last year. The company recorded total revenue of Bt1.8 billion and net profit Bt259 million in the first half of this year.
