News Detail

Date/Time
11 May 2017 17:16:00
Headline
Management Discussion and Analysis Quarter 1 Ending 31 Mar 2017
Symbol
SUSCO
Source
SUSCO
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                Management Discussion and Analysis

Company name                             : SUSCO PUBLIC COMPANY LIMITED
Year                                     : 2017
Quarter                                  : Quarter 1
Ending                                   : 31-Mar-2017
Note                                     :
                                                           TRANSLATION

No. Sor Kor. Bor Chor Ngor. 035/2560                                            
                                 May 11, 2017

Subject :    Submission of the Reviewed Interim Financial
                    Statements for the three - month period ended  March
                    31, 2017 together with  the explanation of the significant
                    causes affecting the operating results to vary more than
                    20% from those of the same period of  the preceding year.

To :              The President
                     The Stock Exchange of Thailand

Enclosures :  The  Reviewed Interim Financial Statements for the
                         three - month period ended March 31, 2017 of
                         SUSCO  Plc. and its subsidiaries and the Review
                         Interim Financial Report by the Certified Public
                         Accountant.

Enclosed  are the Reviewed Interim Financial Statements for the three-month 
period ended  March 31, 2017, and the Reviewed Interim Financial Report by the
Certified Public Accountant, with  the explanation of the significant causes
affecting the operating results to vary more than 20% from those of the same
period of the preceding year, which can be summarized as follows :

1.    The Company's Financial Statements
         In the first quarter of 2017, the Company had a sales volume of
184.440 million litres, an increase of 3.973 million litres, or 2.20% from the 
same period of 2016, and the total revenues of Baht 3,901.27 million, an
increase of Baht 894.87 million, or 29.77%, from the same period of 2016. The
significant cause of the increasing in the net sales revenue is the increasing
of sales volume and product prices.
           In the first quarter of 2017, the Company had a profit before
income tax of Baht 40.13 million, comparing with Baht 35.16 million of the same 
period of 2016, an increase of Baht 4.97 million. The significant causes were:
The gross profit had increased due to the increase in the sales volume  in spite
of  Baht 9.99 million loss from land expropriation on Khlong Chick branch,
which the Company had appealed for higher reimbursement.  The Company net profit
was Baht 32.35 million, an increase of Baht 4.74 million, comparing with Baht
27.62 million of the same period of 2016, the details of which are shown in the
Separate Comprehensive Income Statement attached herewith.
2    The Consolidated Financial Statements
         In the first quarter of 2017, the Company and its subsidiaries
had a total sales volume of 284.964 million litres, a decrease of 3.075 million 
litres, or 1.07%, from the same period of 2016, due to the decrease of sales
from wholesales is greater than the increase in sales from the export and jet
fuel. The total revenues were Baht 5,959.80 million, an increase of Baht
1,297.44 million, or 27.83%, from the same period of 2016. The significant cause
of the increasing in the net sales revenue was due to an increase in sales
volume
In the first quarter of 2017, the Company and its subsidiaries had profit before
income tax of Baht 71.66 million, a decrease of Baht 11.42 million, from the
same period of 2016, although there is an increase in the gross profit. But at
the same time the other revenue was decreased due to in the first quarter of
2016, the subsidiaries Company had  received  corporate income tax refund from
year 2003 and 2004, while there is no similar  event in the first quarter of
2017, and the increase in the cost distribution due to the increase the expenses
from service station and Baht 9.99 million  loss from  land expropriation on
Khlong Chick branch, which the Company had appealed  for higher reimbursement
and provision amount Baht 5.65 million for impairment on inventories  which was
caused by the  reduction in oil price in the world market, when compared with
in the fourth quarter 2016. The Company had net profit of Baht 63.35 million, a
decrease of Baht 12.75 million, comparing with Baht 76.10 million of the same
period of 2016.
                                                                                







                                                                           
                  Please be informed accordingly.

                            Sincerely yours,



                                 (Chairit    Simaroj)
                                             Managing Director
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