News Detail

Date/Time
10 Nov 2017 17:05:00
Headline
Management Discussion and Analysis Quarter 3 Ending 30 Sep 2017
Symbol
SUSCO
Source
SUSCO
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                Management Discussion and Analysis

Company name                             : SUSCO PUBLIC COMPANY LIMITED
Year                                     : 2017
Quarter                                  : Quarter 3
Ending                                   : 30-Sep-2017
Note                                     :
TRANSLATION

No. Sor Kor. Bor Chor Ngor. 077/2560
                                                                                
November 10, 2017

Subject :       Submission of the Reviewed Interim Financial
                       Statements for the three - month and nine - month
                      period   ended  September 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 nine - month  period ended
                          September 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 
nine - month period ended  September 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 third quarter of 2017, the Company had a sales
volume of 192.986 million litres, an increase of 39.441 million litres, or
25.69% from the same period of 2016, and the total revenues of Baht
3,814.86 million, an increase of Baht 878.00 million, or 29.90%, from
the same period of 2016. The significant causes of the increasing net
sales revenue were the increase in sales volume and the sales price.

The Company had a profit before income tax of Baht 86.93 million, comparing with
Baht 28.11 million of the same period of 2016, an increase of Baht 58.82
million. The significant cause of the increase in the gross profit was from the
increase in the sales volume. As a result, the Company had net profit after
income tax of Baht 69.55 million, an increase of Baht 44.96 million, comparing
with Baht 24.59 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 nine- month period ended September 30, 2017 the Company had a sales
volume of  558.536 million  litres, an increase of  62.649 million litres, or
12.63%, from the same period of  2016, and the total revenues of Baht 11,443.12
million, an increase of Baht 2,384.83 million, or 26.33%, 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 242.23 million, an increase of Baht 91.25 million, or 60.44%
when compared with Baht 150.98 million in the same period of 2016, the
significant causes those contributed to a higher gross profit were the increase
in the sales volume, and the increase in the dividend income from the subsidiary
company, whereas the increase in the distribution costs from the increase in
the transportations expenses following the higher sales volume, which has
increased proportionally less than the same period of last year, and the
decrease in the financing cost from decreased of  interest expenses from loan
repayment to financial institution. As a result, the Company had profit after
income tax of Baht 212.57 million, an increase of Baht 80.74 million, or 61.24%,
 when comparing with Baht 131.83 million in the same period of 2016.

2    The Consolidated Financial Statements
2.1 In the third quarter of 2017, the Company and its subsidiaries had a total 
sales volume of 289.547 million litres, an increase of 37.864 million litres, or
15.04%, from the same period of 2016, and the total revenues were Baht 5,668.87
million, an increase of Baht 1,059.61 million, or 22.99%, from the same period
of 2016. The significant causes 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 129.31 
million, an increase of Baht 71.84 million, from the same period of 2016. The
significant causes of the increase in the gross profit were the increase in
sales volume and sales price. As a result, the Company and its subsidiaries had
profit after income tax of Baht 103.59 million, an increase of Baht 47.93
million, or 86.11%, when comparing with profit after tax Baht 55.66 million in
the same period of 2016
2.2  For the nine- month period ended September 30, 2017 the Company and its 
subsidiaries had a sales volume of  856.213 million litres, an increase of
51.852 million litres, or 6.45%, from the same period of  2016, and the total
revenues of Baht 17,279.59 million, an increase of Baht 3,160.38 million, or
22.38%, 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
263.02 million, an increase of Baht 19.54 million, or 8.02% from the same period
of 2016. The significant causes were the increase in the gross profit which was
resulted from the increase in sales volume, whereas the increase in the
distribution cost from the increase in transportation expense following the
higher sales volume which has increased proportionally less than the same period
of last year. As a result, the Company and its subsidiaries had profit after
income tax of Baht 111.67 million, a decrease of Baht 116.21 million, or 51.00%,
when comparing with Baht 227.88 million in the same period of 2016. The
discrepancy was resulted from the additional 2014-2016 income tax expenses
amount Baht 96.21 million, as previously reported to the Stock Exchange of
Thailand on June 29. 2017.

Please be informed accordingly.

                            Sincerely yours,

                                            (Chairit     Simaroj)
                                             Managing Director
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