Sales revenue in the quarter reached Bt2.3586 billion, up 13.7 per cent, it reported.

The company said innovation was the key factor increasing its global market share. In addition, signs of recovery in the Thai automotive sector are expected to benefit EPG. Its revenue target for this year is between Bt10 billion and Bt11 billion.

Associate Professor Chalieo Vitoorapakorn, deputy chief executive officer of Eastern Polymer Group, a manufacturer of polymers and plastic products, said two segments of its business contributed to the solid quarterly performance.

These were its Aeroflex thermal-insulation business and its automotive parts and accessories business under the Aeroklas and TJM brands — the latter for four-wheel-drive vehicles.

Meanwhile, its EPP plastic and packaging business suffered a slight decline due to slower domestic consumption. The automotive business under Aeroklas and TJM posted quarterly revenue of Bt1.0267 billion, up by 30.9 per cent year on year thanks to international demand.

In addition, Aeroklas continued to develop new products such as pickup bed liners, canopies, side steps and other products such as geomembrane |multipurpose plastic sheets for agricultural applications.

Aeroflex benefited from domestic and international demand for thermal insulation, especially premium-grade products used in buildings and many important landmarks in the United States and Japan. Aeroflex sales revenue totalled Bt678 million, an increase of 7.4 per cent year on year.

For the plastic and packaging business, sales revenue was Bt645 million, slightly softening by 0.8 per cent year on year or Bt5 million.

With the current economic situation where domestic growth in gross domestic product is forecast at 3.2 per cent and the slight slowdown in the global economy, EPG expects to continue operating according to its yearly plan.