SET Announcements

UNAUDITED REVIEWED LOXLEY PUBLIC COMPANY LIMITED AND SUBSIDIARIES STATEMENTS OF INCOME FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 1998 AND 1997 In Thousand Baht Consolidated The Company 1998 1997 1998 1997 REVENUES (Note 4) Sales of products and services 4,228,719 4,899,967 2,041,577 2,331,972 Fees and other income 483,187 637,968 310,850 566,067 Equity in results of operations of subsidiaries-net - - 9,068 (6,951) Equity in results of operations of associated companies-net 109,995 68,897 109,995 68,897 Total Revenues 4,821,901 5,606,832 2,471,490 2,959,985 COSTS AND EXPENSES (Note 4) Cost of sales and services 3,143,236 3,713,556 1,592,840 1,944,253 Selling and administrative expenses 1,083,183 1,367,854 401,314 606,564 Interest expense 305,911 199,206 182,310 108,766 Directors remuneration 1,390 6,255 1,010 5,385 Other expenses (Note 9) 221,869 126,090 241,702 125,677 Total Costs and Expenses 4,755,589 5,412,961 2,419,176 2,790,645 Income Before Gain on Exchange Rates, Income Tax and Minority Interest in Net Income of Subsidiaries 66,312 193,871 52,314 169,340 Gain on exchange rates (Note 10) 1,016,635 - 1,014,113 - Income tax (Note 3.1) (323,140) (68,483) (294,952) (38,410) Less Minority Interest in Net Income of Subsidiaries (1,769) (8,242) - - UNAUDITED REVIEWED - 2 - In Thousand Baht Consolidated The Company 1998 1997 1998 1997 Income before cumulative effect of accounting changes 758,038 117,146 771,475 130,930 Cumulative effect on prior years of accounting changes (Note 3.1) - 77,634 - 77,634 NET INCOME 758,038 194,780 771,475 208,564 Earnings per share (Baht) Earnings before cumulative effect of accounting change 18.95 2.93 19.29 3.27 Cumulative effect on prior years of accounting change - 1.94 - 1.94 Earnings per share 18.95 4.87 19.29 5.21 See accompanying Notes to Interim Financial Statements. (With Mr. Vichien Thamtrakuls report dated August 13, 1998) UNAUDITED REVIEWED LOXLEY PUBLIC COMPANY LIMITED AND SUBSIDIARIES STATEMENTS OF RETAINED EARNINGS (DEFICIT) FOR THE THREE-MONTH PERIODS ENDED JUNE 30, 1998 AND 1997 In Thousand Baht Consolidated The Company 1998 1997 1998 1997 UNAPPROPRIATED RETAINED EARNINGS (DEFICIT) Brought Forward (1,579,657) 1,446,402 (1,477,476) 1,529,882 Net income (loss) for the period (538,484) 48,829 (523,970) 35,840 Less Appropriated for cash dividends on 1996 earnings; paid in 1997 at Baht 3 per share - (120,000) - (120,000) Total Unappropriated Retained Earnings (Deficit) (2,118,141) 1,375,231 (2,001,446) 1,445,722 APPROPRIATED RETAINED EARNINGS Reserve fund 52,000 52,000 52,000 52,000 TOTAL RETAINED EARNINGS (DEFICIT) (2,066,141) 1,427,231 (1,949,446) 1,497,722 See accompanying Notes to Interim Financial Statements. (With Mr. Vichien Thamtrakuls report dated August 13, 1998) UNAUDITED REVIEWED LOXLEY PUBLIC COMPANY LIMITED AND SUBSIDIARIES STATEMENTS OF RETAINED EARNINGS (DEFICIT) FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 1998 AND 1997 In Thousand Baht Consolidated The Company 1998 1997 1998 1997 UNAPPROPRIATED RETAINED EARNINGS (DEFICIT) Brought Forward (2,876,179) 1,300,451 (2,772,921) 1,357,158 Net income for the period 758,038 194,780 771,475 208,564 Less Appropriated for cash dividends on 1996 earnings; paid in 1997 at Baht 3 per share - (120,000) - (120,000) Total Unappropriated Retained Earnings (Deficit)(2,118,141) 1,375,231 (2,001,446) 1,445,722 APPROPRIATED RETAINED EARNINGS Reserve fund 52,000 52,000 52,000 52,000 TOTAL RETAINED EARNINGS (DEFICIT) (2,066,141) 1,427,231 (1,949,446) 1,497,722 See accompanying Notes to Interim Financial Statements. (With Mr. Vichien Thamtrakuls report dated August 13, 1998) UNAUDITED REVIEWED LOXLEY PUBLIC COMPANY LIMITED AND SUBSIDIARIES STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY (CAPITAL DEFICIENCY) FOR THE THREE-MONTH PERIODS ENDED JUNE 30, 1998 AND 1997 In Thousand Baht Consolidated The Company 1998 1997 1998 1997 Common Share Capital (Note 9) Balance, beginning of period 400,000 400,000 400,000 400,000 Addition - - - - Balance, end of period 400,000 400,000 400,000 400,000 Premium on Share Capital Balance, beginning of period 1,485,000 1,485,000 1,485,000 1,485,000 Addition - - - - Balance, end of period 1,485,000 1,485,000 1,485,000 1,485,000 Revaluation increment in land (Note 3.2) 205,482 - 205,482 - Retained Earnings (Deficit) Appropriated for: Reserve fund Balance, beginning of period 52,000 52,000 52,000 52,000 Addition - - - - Balance, end of period 52,000 52,000 52,000 52,000 Unappropriated Balance, beginning of period (1,579,657) 1,446,402 (1,477,476) 1,529,882 Net income (loss) (538,484) 48,829 (523,970) 35,840 Cash dividends - (120,000) - (120,000) Balance, end of period (2,118,141) 1,375,231 (2,001,446) 1,445,722 Provision for unrealized loss on decline in value of long-term investments in listed securities (Note 6) (934,244) - (934,244) - Cumulative translation adjustments (2,931) (714) (2,931) - SHAREHOLDERS EQUITY - Net (CAPITAL DEFICIENCY) (912,834) 3,311,517 (796,139) 3,382,722 See accompanying Notes to Interim Financial Statements. (With Mr. Vichien Thamtrakuls report dated August 13, 1998) UNAUDITED REVIEWED LOXLEY PUBLIC COMPANY LIMITED AND SUBSIDIARIES STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY (CAPITAL DEFICIENCY) FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 1998 AND 1997 In Thousand Baht Consolidated The Company 1998 1997 1998 1997 Common Share Capital (Note 9) Balance, beginning of period 400,000 400,000 400,000 400,000 Addition - - - - Balance, end of period 400,000 400,000 400,000 400,000 Premium on Share Capital Balance, beginning of period 1,485,000 1,485,000 1,485,000 1,485,000 Addition - - - - Balance, end of period 1,485,000 1,485,000 1,485,000 1,485,000 Revaluation increment in land (Note 3.2) 205,482 - 205,482 - Retained Earnings (Deficit) Appropriated for: Reserve fund Balance, beginning of period 52,000 52,000 52,000 52,000 Addition - - - - Balance, end of period 52,000 52,000 52,000 52,000 Unappropriated Balance, beginning of period (2,876,179) 1,300,451 (2,772,921) 1,357,158 Net Income 758,038 194,780 771,475 208,564 Cash dividends - (120,000) - (120,000) Balance, end of period (2,118,141) 1,375,231 (2,001,446) 1,445,722 Provision for unrealized loss on decline in value of long-term investments in listed securities (Note 6) (934,244) - (934,244) - Cumulative translation adjustmen (2,931) (714) (2,931) - SHAREHOLDERS EQUITY - Net (CAPITAL DEFICIENCY) (912,834) 3,311,517 (796,139) 3,382,722 See accompanying Notes to Interim Financial Statements. (With Mr. Vichien Thamtrakuls report dated August 13, 1998)