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| • EXCH RATES |
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Baht/$ 33.51/56
Bid/Ask
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GOLD |
14,350
+ 350
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ENERGY
DARANA CHUDASRI
Professional Waste Technology (PRO) hopes its shift to the renewable energy sector will improve the company's profitability in coming years.
The waste management company reported a net loss of 20.06 million baht for the first quarter and a net loss of 131.3 million in 2007.
But Kriengkrai Lertsirisamphan, vice-president for finance, told investors at a briefing on Friday that the company expected to turn an operating profit starting in the third quarter.
Revenues this year are projected to jump sharply to 550 million baht for the full year from 115 million last year. For the first quarter, revenues of 92.4 million baht were sharply up from revenues of 17.27 million in the same period last year.
Revenues have risen from the acquisition of JTS Aluminium and Metal last year. The company's expansion into the renewable energy sector last month was also projected to improve the company's performance, given gross margins of more than 30%.
PRO announced on Friday that it had purchased a plastic waste-to-fuel oil (PTF) machine with a capacity of converting 10 tonnes of plastic waste per day into 4,500 to 8,000 litres of fuel oil.
The machine is the first commercial PTF machine in operations in Southeast Asia, and can produce diesel, gasoline and low-speed diesel for industrial plants.
Mr Kriengkrai said PRO planned to purchase another 10 machines over the next year. The company plans to earn 50% of its revenues from renewables by 2010 and would begin.
Aluminum recycling currently is projected to account for around half of total revenues, with the remainder generated from its fertiliser waste operations and other businesses.
Share of PRO closed on Friday on the Stock Exchange of Thailand at 1.05 baht, up four satang, in trade worth 2.79 million baht.
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