ERIM FINANCIAL STATEMENTS
31 สิงหาคม 2541
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)