Ocean Glass Public Company Ltd has reported operating results for the 3Q of 2008. From its consolidated financial statements, the company reported net sales of THB 478.95M, an increase of 23.07% on 2007. This was due mainly to an increase in export sales, with regards to both quantity and selling price. Gross profit reached THB 170.54M (35.61% of sales), & was higher than 2007 since the price increase was higher than the cost increase. The company has also been promoting sales of high margin products. Ocean Glass' net profit was THB 55.62M, an increase of THB 27.17M or 95.48% compared to THB 28.45M of the same quarter in 2007. This result was also due to the above-mentioned reasons, as well as to continuous control of selling & administrative expenses. During the first nine months of 2008, Ocean Glass reported net sales of THB 1,305.58 million, an increase of THB 164.93 million, or 14.46% year-on-year. Reported gross profit was THB 459.90 million or 35.23% of sales. Net profit was THB 119.51 million, an increase of THB 48.70 million, or 68.77% compared to the same period in 2007.
