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Thai Delta Q2 net profit up 3 pct, below forecasts

Tue Aug 12, 2008 10:53pm EDT

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BANGKOK, Aug 13 (Reuters) - Delta Electronics DELT.BK, Thailand's largest listed electronics firm by market value, reported on Wednesday its second-quarter earnings rose just 3 percent, below forecasts, due to a strong baht.

Delta, a unit of Taiwan-based Delta Electronics Inc (2308.TW), posted a net profit of 621 million baht ($18 million), up from 604 million baht a year earlier but down from 801 million baht in the previous quarter.

Seven analysts polled by Reuters had forecast an average net profit of 637 million baht for the April-June quarter.

Second-quarter sales in dollar term rose almost 7 percent, but the appreciation of the baht left its sales down 1.2 percent in baht terms, the company said in a statement. It gave no details about foreign exchange rates.

Export-oriented Delta produces power supply equipment used in computers and telecoms products. Its main customers include Dell Computer (DELL.O) and Nokia (NOK1V.HE). ($1 = 33.65 Baht) (Reporting by Khettiya Jittapong; Editing by Alan Raybould)



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