Asia Books expects flat growth

       Asia Books Co, Thailand's largest Englishlanguage bookstore chain, expects flat sales growth this year due to fewer foreign customers with the slump in tourism.
       Sales to foreign customers have plunged at least 30% since the beginning of the year, in line with Thai tourism's erosion by economic and political problems and H1N1 flu, said managing director Phumate Manuphibul.
       "The situation seems to be getting better in the second half, but we need to keep an eye on the situation until the first half of next year," he said.
       The company's sales normally increase about 10% per year, with foreign buyers accounting for about 40% of sales, he said. Revenue this year is projected at 1 billion baht, on par with last year.
       But sales to local customers will still rise by 10% this year because Thais are getting keener on reading, he said. The company holds about half of Thailand's market in English books, estimated at 2 billion baht, he said.
       "Interest has grown particularly in children's books among modern parents,who want to improve their children's English proficiency," said Mr Phumate.
       Established 40 years ago, Asia Books merged last year merged with Bookazine.The company has 67 branches nationwide,37 of them under the Bookazine brand and targeted at foreign buyers in tourist destinations such as Chiang Mai,Samui and Krabi.
       The 28 branches aimed at Thai customers are under the Asia Books brand.Two branches under the Book Outlet brand sell second-hand books.
       Asia Books normally adds about 10 outlets each year, said Mr Phumate. But with the slowdown the company has delayed its expansion since late last year,opening only two branches in Bangkok and Chiang Mai in the second half of 2008.
       "We're still looking to open a few more branches as things have started to pick up now," he said.
       The company sees Northeast Thailand as promising, particularly the border provinces near Laos, which are a gateway for tourists.