Prachai expects TPIPL profit to grow?
Prachai Leophairatana has sold a portion of his stake in TPI Polene, then he said this to Reuters:
TPI Polene Thailand’s third largest cement firm, said on Thursday it expected growth in net profit this year, despite analyst forecasts of a fall, due to lower energy costs.
Revenues would be flat or increase slightly, chairman Prachai Leophairatana said in an interview.
Most likely, he simply transfered his stocks in TPIPL to his holding company to manage taxes, as many owners of listed company do in the past years. It however indicates that the stock price in the market is nearing its peak, otherwise there would be no tax leverage.
In any case, I doubt if TPIPL profits will really grow this year. Revenue drop may be even sharper than anyone expect.
TPI Polene is relatively a good company. TPIPL credit rating is amongst the top firms in Thailand, as rated by TRIS.
