Padaeng Industry Public Company Limited announces a net profit of Bt 456 million, or earnings per share of Bt 2.02 ? more than triple the result of the same period in 2005 (Bt 135 million, or earnings per share of Bt 0.60). The consolidated revenue from sales totaled Bt 2,133 million for the first quarter 2006, an increase of Bt 665 million (45%) over the previous year.
Overall sales volume of zinc metal for Q1 reached 25,262 metric tons, much the same as the same period last year (25,855 metric tons). The slight decrease can be attributed to lower export sales which were almost fully compensated by a 13% increase in domestic sales. Despite the repeated signals of slowdown of the domestic activity, the market consumption of zinc metal actually increased by 2.6 % compared to the same period last year, in particular in auto parts and the continuous galvanizing sector, although part of the increase might be due to stock replenishment.
The extent of the company?s improved performance is largely due to the rise of the zinc price, which has increased since last year from an average of US$1,317 in Q1 05 to average US$ 2,242 per ton over Q1 06, a growth of 70%.
Established on April 10, 1981, Padaeng Industry Public Company Limited is listed on the Thai Stock Exchange in the Resources Sector (Mining). The company is the only zinc smelter in South East Asia, with an annual production capacity of 110,000 metric tons of zinc metal and alloy.