TTM expects lower profits

Thailand Tobacco Monopoly is instructed to maintain profitability, at times when health concerns are leading to lower smoking and higher competition from cheap cigarettes.

Deputy Finance Minister Pradit Pataraprasit said after the visit to the TTM office on Thursday that the agency should review the competency of over 200 agents, find ways to reduce expenses, seek more revenue from related businesses, and find new partners.

He said TTM, of which 2007 profits stood at Bt6.23 billion, expects the profit at Bt5 billion in 2008 and Bt4.5 billion in 2009.

TTM which controls the 74 per cent share in the market produced 30.93 million cigarettes in 2007 with earning of Bt46.6 billion. In the year, it remitted Bt44.57 billion to the government.

- The Nation

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TTM expects lower profits

Thailand Tobacco Monopoly is instructed to maintain profitability, at times when health concerns are leading to lower smoking and higher competition from cheap cigarettes.

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