Operating result
TRANSLATION
No. F/49 - 11 May 2006
Subject : Financial Statements Submission
Attention : Managing Director
Stock Exchange of Thailand
Attachment : Financial statements for the first quarter ended 31 March 2006
Thai Factory Development Public Company Limited (the Company) would like to
submit the financial statements for the first quarter ended 31 March 2006
and the operational performance including the financial position of the Company
and its subsidiaries in comparison with the same
period of the year 2005 as follows.
2006 2005 Change Increase
Mil. Bt. Mil. Bt. Mil. Bt. (Decrease) %
Performance
Sales 15.5 118.4 (102.9) (86.9)
Rental and service income 49.5 46.2 3.3 7.1
Gain on sales of investment
in associated company 53.3 - 53.3 100.0
Total revenue 123.7 165.0 (41.3) (25.0)
Net profit 42.9 1.9 41.0 2,157.9
Financial Position
Total assets 1,328.0 1,571.3 (243.3) (15.5)
Total liabilities 458.8 761.1 (302.3) (39.7)
Total shareholders' equity 869.2 810.2 59.0 7.3
Although the Company's operational performance for the first quarter of 2006
would show a decrease of revenue by 25.0% while the net profit had been
jumped up about 2,157.9%.This resulted from gain on sale of investment units
in Thai Industrial Fund 1 (TIF1) amounted Baht 53.3 million had been realized
due to the investment units holding in TIF1 was reduced from 31.8% to be 2.1%
during the first quarter of this year.
In view of the Company's financial position as at 31 March 2006, total
assets were decreased by 15.5% due to the main factories and the condominium
had been sold out during the year to repay the loans from financial institutions
giving rise to reduce the total liabilities by 39.7%.
Faithfully yours,
(Mr.Apichai Taechaubol)
Managing Director
