CLARIFICATION ON THE OPERATING RESULT QUARTER1/2002
15 May 2002
Tor. 7/2545 May 15, 2002
Subject Submission Loxley Public Company Limited's Financial Statements
To President
The Stock Exchange of Thailand
Loxley Public Company Limited ("the Company") would like to submit its
audited financial statement and consolidated financial statement for the three-month period
ended March 31, 2002.
The Company has an operating result changed more than 20% compared to the
same period at previous year caused by the following:
1. Increase in revenue has significant effect from increasing in sales of products
and services in the amount of Baht 217.83 million and sales of investment in
Houay Ho Power Company Limited in the amount of Baht 169.00 million.
2. Net income had substantial effect from Quarter 1/2001. The Company
gained from ECD debt restructuring in the amount of Baht 2,930.31 million
in Quarter 1/2001 which made the net profit greater than Quarter 1/2002.
However, the Company will keep the expenses control in the minimum level
in Year 2002.
Net profit from Bond redemption which was completed in April 2002 is not
existed in this financial statements. It will be existed in Quarter 2/2002 instead.
Please be notified accordingly.
Sincerely yours,
Loxley Public Company Limited
(Mrs. Suganya Veerakiatkij)
Senior Vice President
Accounting and Budgeting Dept.