After Reporting Stellar Results, SVI Plant Catches Fire
BANGKOK -- SVI Public Co.'s head office in Thailand caught fire last night. No update on damages has yet been reported.
In a statement, the company said the fire at the EMS factory in the Bangkadi Industrial Park had been brought under control. The EMS company is insured for the incident, including for any business interruptions.
The announcement came as the EMS company reported stellar third-quarter results in revenue growth, profitability and cash generation. Quarterly revenues were their highest since the company was hit by the Thailand floods in 2011.
Consolidated revenues for the period ended Sept. 30 were Baht 2.65 billion ($83 million), up 25% from last year and up 17% sequentially. Gross margin was up 100 basis points from a year ago and 200 basis points sequentially to 12%. Consolidated net profit for the period was Baht 439 million, up 72% from the June quarter and 113% from last year.
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