11 Aug 2017 21:48:00
Management Discussion and Analysis Quarter 1 Ending 31 Mar 2017-Revise
Management Discussion and Analysis Company name : CHONBURI CONCRETE PRODUCT PUBLIC COMPANY LIMITED Year : 2017 Quarter : Quarter 1 Ending : 31-Mar-2017 Note : No. CM.1/60/077 August 11,2017 Subject Management Discussion and Analysis of Chonburi Concrete Product Public Company Limited for the quarter ended March 31, 2017 Attention President The Stock Exchange of Thailand Attachment: Auditor report and Financial Statement for the quarter ended March 31, 2017 Chonburi Concrete Product Public Company Limited ("the Company") would like to declare the Company's performance by considering the Company's consolidated financial statement for the quarter ended March 31, 2017. The Company recorded a loss attributed to equity holders of the parent of THB 19.41 million, decreased by THB 33.05 million or down 242.29 percent compared to the same period of the previous year in which the Company saw a profit attributed to equity holders of the parent of THB 13.64 million. The details are as follows: 1. For quarter 1 year 2017, the Company had total revenue of THB 589.57 million, decreased by THB 27.93 million or down 4.52 percent compared to the same period of the previous year. The total revenue were seen as the revenue stream from the Company of THB 418.32 million, decreased by 32.71 million or down 7.25 percent together with its subsidiaries' revenue of THB 171.25 million, increased by THB 4.78 million or rise 2.87 percent. A slowdown in construction materials industry as well as high price competition plays a crucial role behind the plunge in total revenue. Moreover, Smart Concrete Public Company Limited, the subsidiary, has restate its financial statement for the first quarter ended March 31, 2017 after acknowledged the facts of judgement of the Supreme Court dated on May 1, 2017 at total amount of THB 21.64 million while the subsidiary has already made a payment to the Defendant in form of cashier cheque according to the Supreme Court's Judgement on July 25, 2017. 2. For quarter 1 year 2017, the Company had total cost of goods sold and services of THB 542.58 million which is accounted for 6.94 percent of its gross profit margin for the period, in contrast, the previous year's total cost of goods sold and services was valued at THB 543.44 million which made up 11.30 percent of gross profit margin. In this regard, a declining average price of construction material's goods in the market led by price competition is the key factor on the drop in the Company's gross profit margin. 3. For quarter 1 year 2017, the Company recorded THB 44.49 million for selling, general and administrative expenses, decreased by THB 4.07 million or down 8.38 percent compared to same period of the previous year since the Company has changed its structure corresponded to the market situation in order to decrease the unnecessary expenses. 4. For quarter 1 year 2017, the Company posted the financial expenses of THB 8.50 million, increased by THB 1.02 million or up 13.64 percent compared to same period previous year's balance of THB 7.48 million due to the additional investment for machineries and factories. Remark: 1) Gross profit and its margin are based on the income from its core business's activities such as revenue from sales and rental and service's income. 2) Decimal numbers shown in this management discussion and analysis are likely to be different from the Company's financial statement due to the rounding to 2-digit and unit changed to million baht. Please be informed accordingly, Best regards ............................................................ (Mr. Pratheep Theepakornsukkasem) Chairman of the Board of Directors Chonburi Concrete Product Public Company Limited This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement.