SUBMISSION OF F/S AND OPERATING RESULTS
13 พฤศจิกายน 2545
Translation
12 October 2002
Subject : Submission of Financial Statements for the quarter 3/2002
To : Director and Manager
Stock Exchange of Thailand
Enclosed please find the consolidated Financial Statements of
Siam Makro Public Company Limited for the third quarter ended September
30, 2002 which have been reviewed by the Company's Certified Public
Accountant.
The Company has earned net profit after tax of Baht 746 million
for the period of 9 months ended September 30, 2002 which decreased 2.7%
from Baht 767 million in the same period last year. For the third quarter
of 2002, the Company reported net profit after tax of Baht 208.9 million
while it was Baht 241.7 million in the same period last year. The decreased
net profit was due mainly to following reasons:
1. Consolidated sales in the third quarter decreased by 5.6%
of last year resulted from no sales of Makro Auto Care Co., Ltd. as a
consequence of the disposal of the entire interest in Makro Auto Care Co.,
Ltd. in the second quarter of this year. Sales of the Company and Makro
Office Centre Co., Ltd. slightly decreased by 2.5% of last year due to
the decrease of Bangkok sales, which reflected the impact of increased
competition especially in pricing. However, the Company had increased
its upcountry sales.
2. The proportion of food sales to total sales increased as
compared to those numbers of last year, which caused the drop in total
Company gross margin.
3. Although the Company increased its one new store in the
second quarter of this year, total selling and administrative expenses
has been continuously reduced by 22.6% of the same period last year.
This was due to tightening control over each store's expenses.
Please be informed accordingly.
Yours faithfully,
Siam Makro Public Company Limited
Signature
(Charoen Assawajarukasem)
SET Coordinator Manager