UPDATE 1-Thai auto part firm AAPICO to return to profit in H2
* 2009 profit seen down 25-30 pct, above market forecast
* 2010 revenue seen up 15-20 pct on recovery in car sector (Adds details)
BANGKOK Aug 20 (Reuters) - Thai auto parts firm AAPICO Hitech AH.BK said on Thursday it expected to return to net profit in the second half of the year after orders from clients increased.
"We should make a profit in the second half because our sales are expected to rise to more than 4 billion baht from 3 billion in the first half," President Yeap Swee Chuan told reporters.
Hit by weak vehicle sales in the domestic market, the company made a net loss of 106 million baht ($3.1 million) in the first six months of 2009 versus a 259 million baht profit a year earlier.
For 2009, net profit was expected to fall 25-30 percent, but the recovery in the auto industry should help push sales up 15-20 percent in 2010, he said.
His profit forecast was better than market expectations. Kim Eng Securities expects the company to post a 2009 net profit of just 4 million baht, down 98 percent from 2008.
AAPICO produces auto parts and car frames for global car makers including Toyota Motor Corp (7203.T) and Honda Motor Co (7267.T), which have manufacturing bases in Thailand.
AAPICO shares ended up 5 percent at 5.25 baht on Thursday, while the main Thai index .SETI was 1.54 percent higher. ($1=34.00 Baht) (Reporting by Saranya Suksomkij; Writing by Khettiya Jittapong; Editing by Alan Raybould)
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