SET Announcements

LOXLEY reported its reviewed quarterly financial statements as follows: (in thousands) Ending March 31 1st Quarter 1996 1995 LOXLEY Net Profit 174,202 101,144 EPS (Baht) 4.36 2.53 LOXLEY reported its consolidated financial statements as follows: (in thousands) Ending March 31 1st Quarter 1996 1996 LOXLEY and its subsidiaries Net Profit 140,148 74,035 EPS (Baht) 3.50 1.85 Loxley Plc (LOXLEY) clarified that the over 20% increase of its net profit for the first quarter of 1996 as compared to the same period of last year could be attributed mainly to the advance repayment of total loan from the EXIM Bank, which was borrowed to finance the import of goods and raw materials. Under conditions of the loan contract, LOXLEY receives a privilege in repaying only 65% of loan, the remaining 30% is considered to be subsidised by EXIM Bank. The company booked the outstanding loan into 2 items, 65% as a loan from EXIM and 35% as "Deferred Revenues". During the first quarter, LOXLEY repaid the loan (65%) before the due date, thus another 35% booked was recognized totally as revenue for the period.