Samart ready for upturn

       Samart Corporation yesterday reported a 17% year-on-year increase in its secondquarter revenues to 4.44 billion baht in the second quarter of this year, reflecting the recovery of the mobile phone business.
       However, net profit declined marginally to 122.3 million baht from 124.5 million a year earlier but up from 43 million in the first quarter. First-half profit was down 38.3% year-on-year to 165.7 million baht.
       Chief executive Watchai Vilailuck said Samart's mobile phone distribution arm Samart I-Mobile (SIM) had passed its lowest point and that revenue and profit in the second half would improve.
       SIM's revenues for the second quarter declined 10% year-on-year to 2.15 billion baht and net profit fell 8% to 46 million baht.
       Amid signs of economic recovery, he said Samart expected its mobile phone sales to remain strong, It plans to 20 handset models to accommodate the GSM, CDMA and 3G services.
       SIM is also focusing on exports to countries where it has a strong market base, including Malaysia, Indonesia,India, Bangladesh and Cambodia.
       Mr Watchai said Samart sold 1.2 million mobile phones during the first half of this year, close to last year's sales,adding that its target of 1.5 million handsets in the second half would be retained and achieved.
       The group's ICT business also did well with revenues of 2.9 billion baht in the first half, helped by more government and state enterprise telecom projects.
       SAMART shares closed yesterday on the Stock Exchange of Thailand at 6.10 baht, unchanged, in trade worth 24.13 million baht.