10 November 2000
EXPLANATION ON THE DIFFERENCE FROM THE SAME PERIOD .
November 9th, 2000
To: President
Stock Exchange of Thailand
Re: Submission of financial statements for the 3rd quarter of
2000 and explanation on the difference over 20 percent
from the same period of last year.
Enclosures: Financial statements for the 3rd quarter of 2000.
We are sending you herewith the enclosed financial
statement of the Company and the consolidated statement of the group
for the 3rd quarter of 2000 ended September 30th, 2000, which were
reviewed by both the Audit or and our Audit Committee.
The net income of the group for the 3rd quarter this year
is a profit of Baht403 million which is higher than that of the prior
quarter by 19 percent and higher than that of the same period last
year by 74 percent. The improvements are partly because of an increase
in sales revenues, from higher utilization of commercial airtimes and
the increase of ad-rates, and partly because in the prior quarter we
incurred loss on covering the European Championship Football Matches
(the EURO 2000) and in the same period last year we charged the two
non-recurring expenses (the moving expenses and the write-off of
goodwill on investment in CVD). The improvements were achieved despite
that we have changed our accounting policy on the way we amortize the
costs of "Plays Charges" which has pushed our costs of sales of the
quarter up by Baht109 million.
Please be informed accordingly.
Sincerely Yours,
(Chatchai Thiamtong)
Vice President - Finance