LTF. 273/2007
November 9, 2007
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 interim financial statements for the quarter ended September 30, 2007 to the Stock Exchange of Thailand ("SET") on November 9, 2007. The performance of the Company and its Subsidiaries for the said period as compared with the same period of last year was as follows:
| (Unit : Million Baht) |
2007 |
2006 |
Change |
| 3rd Quarter | |||
| Rental and related service income |
189.31 |
150.73 |
25.59% |
| Sales of properties to tenant |
32.58 |
51.63 |
-36.89% |
| Realized additional gain on sales of properties to TFUND |
36.54 |
15.88 |
130.08% |
| Profit from sale of investment in TFUND |
42.00 |
- |
- |
| Net income |
132.27 |
52.55 |
151.68% |
| First nine-month | |||
| Rental and related service income |
532.59 |
464.95 |
14.55% |
| Sales of properties to tenant |
204.47 |
122.63 |
66.74% |
| Sales of properties to TFUND |
118.45 |
1,982.00 |
-94.02% |
| Realized additional gain on sales of properties to TFUND |
36.54 |
82.06 |
-55.47% |
| Profit from sale of investment in TFUND |
42.00 |
- |
- |
| Net income |
300.04 |
760.05 |
-60.52% |
Net income of the Company and its Subsidiaries for Q3/2007 increased by Baht 79.72 million, or 151.68 percent as compared with the same period of the last year. This was due to the increase in the Company's rental and related service income, generated from the Company's main business, of Baht 38.58 million, or 25.59 percent. In addition, the Company had capital gain from sale of investment in TFUND of Baht 42 million and the realized additional gain on sales of properties to TFUND of Baht 36.54 million as a result of the reduction in TICON stake in TFUND.
During the first 9 months of 2007, net income of the Company and its Subsidiaries decreased by Baht 460.01 million, or 60.52 percent, as compared with the same period of the last year. The main reason is that the Company sold 44 factories to TFUND in the first 9 months of 2006 while it sold 3 factories to TFUND in the first 9 months of 2007. However, the Company's rental and related service income increased by Baht 67.64 million, or 14.55 percent, as compared with the same period of the last year.
Please be informed accordingly
Yours faithfully
(Miss Lalitphant Phiriyaphant)
Head of finance
Finance Department
Telephone number : 02-679-6565
Facsimile number : 02-287-3153