14 พฤษภาคม 2547
Clarification of change in operating results in excess 20 %
A/C 0182/2004
14 May 2004
Managing Director
The Stock Exchange of Thailand
Subject: Clarification of the change in the operating results according to the financial statements
(profit and loss statements) in excess of 20% of net profit for the second quarter ended 31 March
2004
The Company's operating results showed a net profit of Baht 63.87 million in the interim financial
statements for the period ended 31 March 2004, being an increase in the net profit of Baht 29.81 million or 87.54
% compared to the same period of the preceding year, or an excess of 20%.The Company would accordingly like
to clarify the reasons for this change as follows:
1.The Company's main earnings from the operating leases' rental income showed a figure of Baht
314.33 million, being an increase over of the preceding year of Baht 94.97 million or 43.29% as a result of the
continued expansion of assets for new leases. During the second quarter, the Company's leased assets amounted
to Baht 3,287.04 million, being an increase over the year 2003 of Baht 873.92 million, or an equivalent of
36.22%.Also during this same quarter,the Company earned an income from the sale of leased assets at the
expiration of the lease in an amount of Baht 29.58 million. Such an improvement in the operating results
reflected in an increase in the Company's total earnings of Baht 113.85 million over the preceding year, or
48.10%
2 .In terms of direct cost and expenses, the depreciation cost represented the Company's main expenses.
Total cost and expenses increased over the preceding year of Baht 77.12 million or 40.35%. The increased rate
was in line with the rise in the Company's revenues.
Therefore, in the second quarter the Company has a net profit of Baht 63.87 million, an increase over the
previous year of Baht 29.81 million, or 87.54%. If the country's economy continues to grow, we believe that we
can continue to expand our client base and our assets as well.
For your kind attention.
Yours sincerely,
(Mr.Krirkchai Siribhakdi)
President