LT.F 201/2006
May 11, 2006
Subject Change in performance of more than 20 percent
To The President
The Stock Exchange of Thailand
TICON Industrial Connection Public Co., Ltd. ("the Company") announced the
reviewed financial statements for the quarter ended March 31, 2006 to the
Stock Exchange of Thailand ("SET") on May 11, 2006. The performance of the
Company and its Subsidiary for the said period as compared with the same
period last year was as follows:
(Unit : Million Baht) Q1/2006 Q1/ 2005 Change
Sale of property to tenant 19.00 51.96 - 63.43
Rental and related service income 170.61 160.85 + 6.06
Net income 53.33 89.76 - 40.59
Earnings of the Company and its Subsidiary for the three-month period ended
March 31, 2006 decreased by Baht 36.44 million, or 40.59 percent, from those
of the same period of 2005. The main reasons are the decrease in sale of
property to tenant of 63.43 percent, due to the fact that the Company sold 1
factory located on leasehold land as comparing with 1 factory with freehold land
sold in Q1/2005. Moreover, the Company's rapid business expansion resulted in
increase in selling and administrative and interest expenses.
However, rental and related service income, which was generated from the
Company's main business, has increased continuously 16.37 percent increased from
Q4/2005 or 6.06 percent increased from Q1/2005 (net of sales of 39 factories to
TFUND in Q2/2005).
The Company would like to add that the sales of 44 factories to TFUND, amounting
Baht 1,982 million, on April 11, 2006, will be recorded as financial result in
Q2/2006.
Please be informed accordingly
Sincerely yours
(Miss Lalitphant Phiriyaphant)
Head of Finance