April 29, 2014 / 3:36 AM / in 4 years

Thai Delta Electronics expects record net profit in 2014

BANGKOK, April 29 (Reuters) - Thai Delta Electronics (Thailand) Pcl said on Tuesday it expected 2014 net profit will hit a record for fourth straight year due to strong global demand for power supply equipment in the telecoms and auto sectors.

Sales in dollar term are expected to rise 5-10 percent this year and the company plans to spend about $100 million on an acquisition in Europe later this year, director Anusorn Muttaraid told reporters.

He gave no details about the acquisition target.

On Monday, the company reported a 15 percent rise in first-quarter net profit of 1.4 billion baht ($43.3 million), due to strong sales in telecoms-related power supply equipment especially in India and other emerging markets. ($1 = 32.3100 Thai Baht) (Reporting by Saranya Suksomkij; Writing by Khettiya Jittapong; Editing by Gopakumar Warrier)

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