Vanachai Group Public Co. Ltd. Announces Consolidated and Company Earnings Results for the Second Quarter and Six Months Ended June 30, 2014
August 14, 2014 at 05:03 am EDT
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Vanachai Group Public Co. Ltd. announced consolidated and company earnings results for the second quarter and six months ended June 30, 2014. For the quarter, on consolidated basis, the company reported net profit of THB 126,392,000 compared to net loss of THB 164,507,000 a year ago. EPS was THB 0.10 compared to LPS of THB 0.13 a year ago. The company and its subsidiaries have the total revenue from sales in amount of THB 2,588.2 million which is increasing from the year 2013 at equivalence of THB 651.5 million or approximately by 34%. These caused, the world economic is likely to be rebounded, which the sale total revenue of the company increasing from the year 2013. the net profit has increase THB 290.9 million or 177% for the main reasons: the total sales has increased THB 651.5 million, due to sales volume of Particleboards has increased by 59%. The average price of MDF Board has increased by 10%. Net cash flow used operating activities is THB 41.4 million, increase by THB 689.7 million from the previous year because of increase in trade and other receivable by THB 659.3 million, revenue department receivable by THB 73.5 million, increase in the inventories by THB 649.4 million, increase trade and other payable by THB 298.5 million and decrease advance received from customers by THB 110.9 million.
For the six months, on consolidated basis, the company reported net profit of THB 194,403,000 compared to net loss of THB 281,849,000 a year ago. EPS was THB 0.15 compared to LPS of THB 0.22 a year ago.
For the quarter, on company basis, the company reported net profit of THB 82,819,000 compared to net loss of THB 9,707,000 a year ago. EPS was THB 0.06 compared to LPS of THB 0.01 a year ago.
For the six months, on company basis, the company reported net profit of THB 77,769,000 compared to net loss of THB 80,387,000 a year ago. EPS was THB 0.06 compared to LPS of THB 0.06 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.