Union Mosaid Industry Plc. (UMI) reported on reviewed quarterly
financial statements as follows:
(in thousands)
1st Quarter Ending March 31,
1997 1996
UMI
Net profit (loss) (18,597) (15,264)
EPS (baht) (0.58) (0.48)
Comment: Please verify details in financial statements from R-SIMS.
UMI clarified its Q1/1997 performance as follows:
1. The operating result of UMI, itself, improved but its associates
suffered higher operating loss, so the above financial statements showed
higher loss as the company had to realised its equity in loss of the
associates.
2. The country's economic outlook still could not improve. The
company has tried to improve its production efficiency to achieve high-
quality product at lower cost. This resulted in a slight improvement of
the operating result.
