News Detail

Date/Time
10 Aug 2017 17:11:00
Headline
Management Discussion and Analysis Quarter 2 Ending 30 Jun 2017
Symbol
SUSCO
Source
SUSCO
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                Management Discussion and Analysis

Company name                             : SUSCO PUBLIC COMPANY LIMITED
Year                                     : 2017
Quarter                                  : Quarter 2
Ending                                   : 30-Jun-2017
Note                                     :
                                                    TRANSLATION

No. Sor Kor. Bor Chor Ngor.
059/2560                                                                        
                        August 10, 2017

Subject :       Submission of the Reviewed Interim Financial
                       Statements for the three - month and six - month period
                       ended  June 30, 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 and six - month  period ended June 30, 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 and six - month period ended  June 30, 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
         1.1 In the second quarter of 2017, the Company had a sales
volume of 181.109 million litres, an increase of 19.234 million litres, or
11.88% from the same period of 2016, and the total revenues of Baht
3,726.99 million, an increase of Baht 611.97 million, or 19.65%, from
the same period of 2016. The significant causes of the increasing in
the net sales revenue were the increasing of sales volume and the
sales price.

             The Company had a profit before income tax of Baht 115.17
million, comparing with Baht 87.71 million of the same period of
2016, an increase of Baht 27.46 million, or 31.31%.  The significant
causes were:  The increase in the sales volume,  and the decrease in
the financing cost from less interest expenses due to the loan
repayment to financial institution, and received the dividend from the
subsidiary company of Baht 73.78 million. As a result, the Company
had net profit of Baht 110.67 million, an increase of Baht 31.05
million, or 39.00%, comparing with Baht 79.62 million of the same
period of 2016, the details of which are shown in the Separate
Comprehensive Income Statement attached herewith.

              1.2  For the six- month period ended June 30, 2017 the
Company had a sales volume of  365.550 million  litres, an increase
of  23.209 million litres, or 6.78%, from the same period of  2016, and
the total revenues of Baht 7,628.26 million, an increase of Baht
1,506.84 million, or 24.62%, from the same period of 2016. The
significant causes of the increasing in the net sales revenue were the
increase in the sales volume and the sales price.  The details of which
are shown in the attached Separate Comprehensive Income
Statement. The profit before income tax of Baht 155.30 million, an
increase of Baht 32.43 million, or 26.40% when compared with Baht
122.87 million in the same period of 2016, the significant causes
were: The gross profit had increased  due to the increase in the sales
volume, and the decrease in the financing cost from decreased of
interest expenses due to the loan repayment to financial institution.
As a result, the Company had profit after income tax of Baht 143.02
million, an increase of Baht 35.78 million, or 33.37%, when
comparing with Baht 107.24 million in the same period of 2016.

2    The Consolidated Financial Statements
          2.1 In the second quarter of 2017, the Company and its
subsidiaries had a total sales volume of 281.723 million litres, an
increase of 17.086 million litres, or 6.46%, from the same period of
2016, and the total revenues were Baht 5,650.91 million, an increase
of Baht 803.73 million, or 16.58%, from the same period of 2016. The
significant cause of the increasing in the net sales revenue were the
increase in sales volume and the sales price.

            The Company and its subsidiaries had profit before income tax
of Baht 62.06 million, a decrease of Baht 40.51 million, or 39.50%,
from the same period of 2016. The significant causes were: the
decrease in the gross profit from the increase in cost of goods sold,
and the increase in the logistic cost following the increase in sales
volume, and the increase in the administrative expenses due to the
Baht 18.64 million tax surcharge of the year 2014-2015 on the
company's subsidiary. As a result, the Company and its subsidiaries
had loss  after income tax of Baht 55.28 million, a decrease of Baht
151.01 million, when comparing with profit after tax Baht 95.74
million in the same period of 2016, resulted from the additional 2014-
2016 income tax expenses amount Baht 96.21 million, by as the
reported to the Stock Exchange of Thailand on June 29. 2017.

             2.2  For the six- month period ended June 30, 2017 the
Company and its subsidiaries had  a sales volume of  566.483 million
litres, an increase of  13.806 million litres, or 2.50%, from the same
period of  2016, and the total revenues of Baht 11,610.72 million, an
increase of Baht 2,101.16 million, or 22.10%, from the same period of
2016. The significant causes of the increasing in the net sales
revenue were the increase in the sales volume and the sales price.
The Company and its subsidiaries had profit before income tax of
Baht 133.72 million, a decrease of Baht 51.93 million, or 27.97% from
the same period of 2016. The significant causes were: the increase in
the logistic cost from the increase in sales volume, and the increase
in the administrative expenses due to the 2014-2015 tax surcharge
on the company's subsidiary. The Company and its subsidiaries had
profit after income tax of Baht 8.08 million, a decrease of Baht 163.76
million, or 95.30%, when comparing with Baht 171.84 million in the
same period of 2016, which was resulted from the increase in the
income tax expenses.

 
Please be informed accordingly.

                                  Sincerely yours,

                                     (Chairit    Simaroj)
                                     Managing Director
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