For the third quarter of 2006, Padaeng Industry Public Company Limited announces a consolidated net profit of Bt 232 million or earning per share of Bt. 1.03. Total sales revenues in the period totaled Bt 2,524 million, a 81% increase from the revenues of Q3 05 (Bt1,394 million) but down 5% compared to Q2 06.
For the first nine months of 2006, the consolidated net profit totals Bt 1,243 million or earnings per share of Bt 5.50, compared to a net profit of Bt 442 million and earnings per share of Bt 1.96 for the same period last year, an improvement of 181%. Total revenues and services increased 62% from 2005.
The Company result still benefited from the higher zinc price, which averaged at US$ 2,966 per metric ton or a rise of 129%, over the same period last year. The average zinc price of the 3rd quarter rose further to US$ 3,363 per metric ton.
Sales for the quarter reached 21,887 tons, receding after the surprisingly good levels of the first half year , this as a consequence of the heavy rains and of the political situation during the quarter.
On a year to date basis, the sales quantity for YTD period amounts 72,493 metric tons, 5% lower than last year due to low exports but actually 11% higher for the domestic sales.
With world metal stocks continuing to decrease, Padaeng will continue to benefit in the next quarter from the soaring zinc price, although this situation is likely to further affect the local demand as well.
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 producer of high quality zinc in South East Asia, with an annual production capacity of 110,000 metric tons of zinc metal and alloy.
