Vanachai Group Public Company Limited Reports Unaudited Consolidated and Separate Earnings Results for the First Quarter Ended March 31, 2017
May 12, 2017 at 02:49 am
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Vanachai Group Public Company Limited reported unaudited consolidated and separate earnings results for the first quarter ended March 31, 2017. For the quarter, on consolidated basis, the company reported revenue from sales of THB 2,680,883,000 compared to THB 2,590,996,000 a year ago. Profit before income tax was THB 294,066,000 compared to THB 340,600,000 a year ago. Profit attributable to shareholders of the company was of THB 264,779,000 or THB 0.17 per basic share compared to THB 318,687,000 or THB 0.20 per basic share a year ago. Net cash received from operating activities was of THB 77,565,000 compared to net cash used in operating activities of THB 437,969,000 a year ago. Cash paid from purchase of property, plant and equipment was THB 281,378,000 compared to THB 303,348,000 a year ago. Cash paid for purchase of intangible assets were THB 587,000 compared to THB 1,012,000 a year ago. Total revenue from sales increased THB 89.9 million; about 3% compared to last year same period. These caused, revenue from sales of domestic and export increased about 1% and 3% respectively. The profit decreased THB 52.6 million or 16% for the following main reasons; the total sales has increased THB 89.9 million, due to sales volume of MDF Board has increased by 8%, Particleboard has decreased by 12%; cost of sales THB 1,975.0 million, increased of THB 100.5 million; and financial cost THB 33.5 million, decreased of THB 2.0 million, due to a decrease in the principal amount of the loan repayment schedule. Net cash used in operating activities was increased by THB 515.5 million, because of decreased of profit from operation before change in operating assets and liabilities by THB 2.5 million, increased operating assets THB 539.7 million and increased operating liabilities THB 26.2 million.
For the quarter, on separate basis, the company reported revenue from sales of THB 1,321,050,000 compared to THB 1,173,905,000 a year ago. Profit before income tax was THB 168,106,000 compared to THB 87,452,000 a year ago. Profit attributable to shareholders of the company was of THB 158,154,000 or THB 0.10 per basic share compared to THB 81,397,000 or THB 0.05 per basic share a year ago. Net cash received from operating activities was THB 143,354,000 compared to net cash used in operating activities of THB 27,932,000 a year ago. Cash paid from purchase of property, plant and equipment was THB 49,788,000 compared to THB 45,044,000 a year ago. Cash paid for purchase of intangible assets were THB 466,000 compared to THB 315,000 a year ago.
Vanachai Group Public Company Limited is a Thailand-based company, which is engaged in the production and distribution of wood plates, medium-density fiberboards (MDF) boards, Particle boards, Doorskin and Malamine on wood plates. The Company operates through four segments: MDF board, particle board and door skin, Glue, Melamine impregnated paper, and Other. The Company's products include medium-density fiberboards (MDF), particle boards, molded door skin, high-density (HDF) fiberboards and laminated flooring, resins, impregnated paper, as well as urea-formaldehyde adhesive, which is used to add permanent-press qualities to wood fiber. The Companyâs subsidiaries include Particle Planner Co., Ltd., Vanachai Chemical Industries Co., Ltd., Vanachai Panel Industries Co., Ltd., Woodtek International Co., Ltd., Vanachai Energy Industries Co., Ltd., Vanachai Woodsmith Co., Ltd., Vanachai Logistics Co., Ltd., Vanachai Logistics Enterprise Co., Ltd., and PV Wood Co., Ltd.