Press Release
24/May/04
Padaeng announces first quarter 04 performance
For the first quarter of 2004, Padaeng Industry Public Company limited's total zinc metal sold was 26,436 tons, a 4.1% decrease from 27,565 tons of the same quarter last year. This is due to a slowdown in production during the annual plant shutdown. Even as sales volume decreased, sales value rose owing to a rebound in world zinc price to 1,070 USD or a 36.1% increase from the same quarter last year and the increased utilization of zinc silicate ore in the production process. Nevertheless, the company still suffers from high electricity costs, fuel and freight costs, which have increased steadily since the previous year as well as an appreciation of Thai Baht over the US dollar. Bearing these factors in mind, the company reported the first quarter result as follows:
From the company’s statement of income on Equity Method, the company’s total revenues from sales and services was Bt1,247.1m which increased from the same quarter of year 2003 by Bt111.6m or 9.8% increase. There was net gain of Bt85.2m or a net gain per share of Bt0.38 compared to a net gain per share of Bt0.15 in the same period of year 2003.
From the company’s consolidated statement of income, total revenues from sales and services was Bt1,249.0m which increased by Bt110.8m or a 9.7% increase from the same quarter of last year. There was net gain of Bt84.4m or a net gain per share of Bt0.37 compared to a net gain per share of Bt0.14 in the same quarter of year 2003.
