Union Mosaic Industry Plc. (UMI) reported a summary of its audited
annual financial statements as follows:
(In Thousand Baht)
For Year Ended December 31
1996 1995
UMI
Net profit (loss) (185,946) 46,337
EPS (Baht) (5.81) 1.44
UMI clarified change in the performance of 1996, compared to 1995,
saying that the business was affected because property market was on a
slump as known. Besides, the products' market was in a high competition.
Pricing strategies were used while sales promotion expenses also rose,
leading to a loss despite increased sales volume.
