OPERATING RESULTS
15 May 2000
TP-MT/078/43 (FC079/43)
May 15, 2000
Subject : Filing of Verified Financial Statements for the First Quarter of
2000 and 1999 and Report on Comparative Operating Performance
Between the First Quarter
Attention: Director and Manager, SET
Enclosures: Verified Financial Statements and the Report of C.P.A. for
the First Quarter of 1999 - 2000, 2 copies (1 Thai and 1 English versions)
Pursuant to SET regulations concerning Criteria, Conditions and
Methods of Preparation, Filing, and Reporting on Financial Status and
Business Performance of Listed Companies dated May 19, 1993 required
for the company's clarification on causes contributing to changes over 20
percent of business performances from the previous operating period
accordingly.
Thantawan Industry Public Co., Ltd (THIP) therefore clarifies the major
causes for significant changes of business performances in the 1st
Quarter of 2000 as compared with the same Quarter in 1999 as
followings:
1. The total revenues of THIP had increased from Baht 165.56 million in
1st Quarter of 1999 to be Baht 196.80 million in 1st Quarter of 2000,
computed as increasing rate of 18.87% due to following causes :
1.1 Sales revenues in U.S. dollars had increased from amounting
$4.11 million in the 1st Quarter of 1999 to amounting $4.91
million in the 1st Quarter of 2000 or increasing at 19.39%.
1.2 The average exchange rate of Baht to U.S. Dollar in the 1st
Quarter of 1999 was Baht 36.99 per dollar to Baht 37.46 per
dollar or increasing at 1.28%.
2. In consideration of comparative financial statements using Financial
Common Size Statement had shown that:
2.1 Cost of Good Sold had increased to 73.56% in the 1st Quarter in
2000 from the same previous year Quarter at 65.74% or
increasing at 32.78% due to cost of resin pallets has increased
from Baht 23 to be Baht 28 or 22% causing the decreasing in
gross profit from 30.54% to 24.42% or decreasing by 6.12%.
2.2 Selling and Administrative Expenses had increased to 21.14% in
2000 from the same previous year 1st Quarter in 1999 at 21.10%
due to rising cost of international freight expenses affecting by
oil price crises.
3. With the impact of such above cited causes, therefore, had resulted to
decreasing Net Profit at only Bt. 7.15 million in the 1st Quarter of
2000 in which decreasing from the same period at Net Profit
amounting Bt. 14.70 million or taken as 51.36%.
Please be informed accordingly.
Very truly yours,
(Mr.Huang Kuan Chiun) (Mr.Pichai Tangwithetchit)
Director Director
