News Detail
Date/Time
19 Feb 2018 18:07:00
Headline
Management Discussion and Analysis Yearly Ending 31 Dec 2017
Symbol
SUSCO
Source
SUSCO
Management Discussion and Analysis Company name : SUSCO PUBLIC COMPANY LIMITED Year : 2017 Quarter : Yearly Ending : 31-Dec-2017 Note : TRANSLATION No. Sor Kor. Bor Chor Ngor. 006/2561 February 19, 2018 Subject : Submission of the Audited Financial Statements for the year ended December 31, 2017 together with the clarification on the main causes of the variation in operating results, exceeding 20% from those of the same periods of the preceding year. To : The President The Stock Exchange of Thailand Enclosures : The Audited Financial Statements for the year ended December 31, 2017 of SUSCO Plc. and its subsidiaries and the Audit Report by the Certified Public Accountant. Enclosed are the Audited Financial Statements for the year ended December 31, 2017, and the Audit Report by the Certified Public Accountant, with the clarification on the main causes of the variation in operating results, exceeding 20% from those of the same periods of the preceding year, which can be summarized as follows : 1. The Company's Financial Statements In 2017, the Company had a sales volume of 751.866 million litres, an increase of 85.319 million litres, or 12.80% from the same period of 2016, and a total revenue of Baht 15,536.87 million, an increase of Baht 2,932.99 million, or 23.27%, from the same period of 2016. The main reason was the increase in the net sales revenue due to the increase in the sales volume and product prices . The details of which are shown in the attached Separate Comprehensive Income Statement. The Company had a profit before income tax of Baht 309.71 million, a decrease of Baht 16.33 million or 5.01% comparing with Baht 326.04 million of the same periods of 2016 due to the decrease in the dividend income from the subsidiaries and the increase in the transportations expenses following the higher sales volume, despite an increase in the gross profit and a decrease in the financing cost. The Company had net profit after income tax of Baht 265.68 million, a decrease of Baht 19.42 million, or 6.81% , comparing with Baht 285.10 million in the same period of 2016. 2 The Consolidated Financial Statements In 2017, the Company and its subsidiaries had a total sales volume of 1,147.259 million litres, an increase of 69.822 million litres, or 6.48%, from the same period of 2016. The total revenue was Baht 23,424.94 million, an increase of Baht 4,030.86 million, or 20.78%, from the same period of 2016. The significant cause were: the increase in the net sales revenue due to the increase in sales volume and product prices. The Company and its subsidiaries had profit before income tax of Baht 399.58 million, an increase of Baht 83.79 million, or 26.53% from the same period of 2016. The significant causes were: the increase in the gross profit resulted from the increase in sales volume, and the decrease in the financing cost due to a decrease in interest expenses from loan repayment to financial institution. But due to the second quarter had the increase income tax expenses amount Baht 96.21 million, as previously reported to the Stock Exchange of Thailand on June 29, 2017. As a result, the Company and its subsidiaries had profit after income tax of Baht 222.55 million, a decrease of Baht 62.24 million, or 21.85%, when comparing with Baht 284.78 million in the same period of 2016. Please be informed accordingly. Sincerely yours, (Chairit Simaroj) Managing Director 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.