UKEM ups profits

Union Petrochemical (UKEM), a major Thai importer and distributor of solvents and other chemicals, has announced a first quarter 2009 net profit of Baht 15.7m ($0.4m) compared to the Baht 13.5m recorded 12 months ago. Concurrent with a gross year-on-year profit margin increase of 14.8 per cent, the company's interest expenses fell 48.2 per cent “due to the decline of short-term loan requirements coupled with the downward trend of interest rates”. 

Representing such principals as Exxon Mobil Chemical (Thailand), Thai Mitsubishi Corporation and Thai Petrochemical Industries, the company closed 2008 with a net profit of Baht 47.3m from total sales worth Baht 2.5bn. 
www.unionpetrochemical.com