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Thai auto part maker Aapico Hitech sees 2014 revenue down 10-15 pct
May 29, 2014 / 3:46 AM / 3 years ago

Thai auto part maker Aapico Hitech sees 2014 revenue down 10-15 pct

BANGKOK, May 29 (Reuters) - Thai auto parts maker Aapico Hitech Pcl said on Thursday its 2014 revenue should fall by 10-15 percent, worse than an earlier forecast of a 5-10 percent decline, due to weak demand in the overall auto sector and months of political unrest.

The company’s net profit will drop by much more in percentage terms than its revenue, but the sector is likely to improve in the second half on hopes of new economic stimulus from the army government, chief executive Yeap Swee Chuan told reporters.

Reporting by Pisit Changplayngam; Writing by Khettiya Jittapong; Editing by Jacqueline Wong

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