Clarification of the Operating Results in Q1/2007
16 พฤษภาคม 2550
Tor.9/2550 May 15, 2007
Subject: Submission the Interim Financial Statements for
the three-month period ended March 31, 2007
To: President
The Stock Exchange of Thailand
Attachment: The Company and consolidated financial statement
for the three-month period ended March 31, 2007
Loxley Public Company Limited ("the Company")
would like to submit its interim financial statements and
review report of certified public accountant for the
three-month period ended March 31, 2007.
From consolidated financial statements,
the Company has net profit in the amount of Baht 108 million.
The Company has an operating result changed more than 20%
compared to the same period at previous year mainly caused
by increasing in net profit from separate financial statements
in the amount of Baht 45 million derived from increasing in
revenue and dividend from subsidiaries and associated companies.
Furthermore, the Company recognized shares of profits from
investments in associated accounted for using equity method
approximately Baht 21.59 million.
Starting from January 1, 2007, the Company changed
its accounting policy for recording investments in subsidiaries
and associated companies in the Company financial statement
from equity method to cost method accordance with the
Announcement of the Federation of Accounting Professions
No.26/2549 regarding to the Thai Accounting Standard No.44
"Consolidated Financial Statements and Accounting for
Investments in Subsidiaries" which amend to record the
investment in subsidiaries and associated from the equity
method to cost method. The change in accounting policy has
been applied retrospectively and the Company's 2006 financial
statements, which are included in the Company's 2007
interim financial statements for comparative purposes,
have been restated accordingly. This change effected to
decrease in the Company's net profit for the three-month
period ended March 31, 2007 and 2006 in the amount of Baht
69.7 million (Baht 0.03 per share) and Baht 6.60 million
(Baht 0.001 per share), respectively. The cumulative effect
of the change in accounting policy has been presented in the
Statements of Changes in Shareholders'Equity.
This changing in accounting policy has affected
only the accounts which related to the investments in
subsidiaries and associated company in the Company's
financial statements, not in the consolidated financial
statements.
Please be informed accordingly.
Sincerely yours,
Loxley Public Company Limited
(Mr. Pichai Mooputtarak)
Secretary of Board of Director