Clarification for the change in Q1/2008
Ref.SET 18 /2008
May 13, 2008
To: President The Stock Exchange of Thailand
Subject: Clarification for the change in Q1/2008 operating result more than 20 %
Major Cineplex Group Public Company Limited (Company) would like to submit to the Stock Exchange of Thailand and to inform the public on its interim first quarter financial statements ending 31st March 2008.
The Company's management would like to explain its first quarter financial statement ending 31st March 2008 (Q1/2008) in comparison with the first quarter financial statement ending 31st March 2007.
1. The Consolidated Profit and Loss for the first quarter ending 31st March 2008 (Q1/2008) in comparison with the Consolidated Profit and Loss for the first quarter ending 31st March 2007 (Q1/2007)
1.1 In Q1/2008, the Company's net profit was Baht 301.31 million, an increase of Baht 106.59 million or 54.7 % compared to the same period last year.(Q1/2007: Net Profit was Baht 194.72 million) The reasons in change of result are as follow:-
- The Company has agreed to cancel and return the leased area at Central World. The lessor paid the compensation to the Company and the gain from disposal amounting to Baht 98 million has been recognised.
- Gain on disposals of investment in M Pictures Company Limited (MP) to Traffic Corner Holdings Public Company Ltd.(TRAF), an associate company Baht 107.98 million
2. Consolidated Balance Sheet as of 31st March 2008 in comparison with Consolidated Balance Sheet as of 31st December 2007
- Total liabilities of Baht 3,416.61 million, a decrease of Baht 255.14 million due to cash outflow for loan repayment.
Please be informed accordingly,
Yours Sincerely,
(Mr.Chattaphum Kantiviriya)
Chief Finance Officer