The Union Mosaic Industry Plc. (UMI) reported its reviewed quarterly
financial statements as follows:
(In Thousands)
Ending June 30
2nd Quarter For 6 months
1996 1995 1996 1995
UMI
Net profit (54,684) 7,337 (69,948) 36,412
EPS (Baht) (1.71) 0.23 (2.19) 1.14
UMI explained the over 20% drop in the operating performance of Q2
/1996 in that:
1. The overall economic circumstance was not nourishing to
the construction business, particularly the housing business which was
facing an over-supply problem. The Ceramic industry had to confront high
competition as well as a price policy. Production was also higher
than the demand.
2. The company had to increse its selling costs, especially for
sales promotion, so as to be more competitive.
