(Translation from Thai Text)
2 September 2005
Subject :Explanation for operating results for 3rd Quarter
To:President
Stock Exchange of Thailand
We, Pico (Thailand) Public Company Limited, would like to elaborate on
our 9 month performance from November 1, 2004 to July 31, 2005.
Our consolidated group of companies recorded total service income of
Baht 502.54 million, Baht 48.35 million increase or 10.65% over
the corresponding period of the previous year. 87% of the income was
from Pico and 13% from the subsidiaries.Cost of services was
Baht 380.77 million, total selling and general administrative expenses
came to Baht 89.34 million and the income taxes was Baht 7.22 million.
Net income therefore amounted to Baht 23.53 million or a decline of
Baht 2.43 million from the same period last year.
The operating performance decline above was due to a drop in
the 3rd quarter turnover by Baht 38.34 million.This was due to the
decline in event marketing and income especially in the product launching
and road shows. The 3rd quarter performance therefore recorded a loss
of Baht 4.95 million although the 9 months total recorded a net profit of
Baht 23.53 million.
Furthermore as of July 31, 2005 we have several pending projects of which
income will be recognized subsequent to project completion after
July 31 amounting to Baht 220 million.
Please be informed accordingly
Yours faithfully,
-Signature-
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(Mr. Pised Chungyampin)
Chief Executive Officer
Pico (Thailand) Public Company Limited