SUBMISSION OF F/S AND EXPLANATION FOR PROFIT CHANGE
16 May 2003
Date : 16/05/2003 08:28
MAKRO : SUBMISSION OF F/S AND EXPLANATION FOR PROFIT CHANGE
( Translation )
May 14,2003
Subject Submission of Consolidated Financial Statements for the
1st quarter of 2003
To Director and Manager
Stock Exchange of Thailand
Enclosed please find the consolidated financial statements of
Siam Makro Public Company Limited and its subsidiaries for the first
quarter ended March 31,2003 which were reviewed by the certified
public accountant.
The consolidated sales during the 1st quarter this year were
Baht 8,859 million which declined from same quarter last year by 4.6%.
The sales decrease was due mainly to there were no sales of Makro Auto
Care Company Limited in which we have disposed its entire investment
in the 2nd quarter last year. In this regard, sales of the Company and
Makro Office Centre Company Limited decreased by 1.6% resulted from
the sales reduction in Bangkok area in accordance with the increased
non food competition. Though the new stores were opened in 2nd quarter
last year, the Company's selling and administrative expenses reduced
by 17.3% as compared with same quarter last year due to the continued
tightening control over the expenses which contributed to higher net
consolidated earnings after tax of Baht 189.7 million which increased
1.7% as compared to same quarter last year.
Please be informed accordingly.
Yours Faithfully,
For Siam Makro Public Company Limited
( Mr. Charoen Assawajarukasem )
SET Coordinator Manager