Archive : Management's Discussion and Analysis.
Key highlight in 1Q17
Comparison consolidated financial statement for 3 months ended 31 Mar 2017 and 31 Mar 2016
|Unit : Million Baht|
|Consolidated financial statement||
|Revenue from sale of goods||6,271||6,395||(124)||(1.9%)|
|Cost of sale of goods||4,687||4,787||(101)||(2.1%)|
|Share of profit of associates||147||122||25||20.6%|
|Profit before income tax expense||902||900||2||0.2%|
|Income tax expense||147||158||12||7.4%|
Note: Core profit is excluding share of profit of associates
Comparison financial position for 3 months ended 31 Mar 2017 and 31 Dec 2016
|Unit : Million Baht|
|Cash and cash equivalents||1,722||2,219||(497)||(22.4%)|
|Other current assets||3,129||3,470||(341)||(9.8%)|
|Other non-current assets||21,402||21,277||125||0.6%|
|Total current liabilities||6,430||7,367||(937)||(12.7%)|
|Total non-current liabilities||2,911||3,437||(526)||(15.3%)|
|Total liabilities and equities||26,289||27,001||(712)||(2.6%)|
Total assets amounted to Baht 26,289 million, an decrease of Baht 712 million or -2.6 % compared to the end of 2016. Total liabilities amounted to Baht 9,341 million, a decrease of Baht 1,463 million or -13.5% compared to the end of 2016. This decrease is due to lower accounts payable, other current payables and repayment of long term loans. Shareholders' equity totaled Baht 16,948 million, an increase of Baht 751 million or 4.6%, attributable to an improved financial performance.
As of 31 March 2017, the Company's capital structure comprised of total liabilities of Baht 9,341 million while the interest bearing debt was Baht 2,745 million, and total shareholders' equity totaled Baht16,948 million. The Company had a liability to equity ratio of 0.6 times, while a net interest bearing debt to equity ratio was at 0.06 times.
Prospects for the future malls in 2017
This year, the Company plans to open three new stores in Thailand (one lifestyle center in Petchaburi in the first half, and another in Kampaengphet and a department store in Mahachai in the second half).We closed one store in Ubonratchatani province in 1Q17 because we belief that our Ubonratchatani2 store is suffice to support growth of province. At the end of this year, we will have total forty-six stores Thailand and two stores in Vietnam.
|Key financial ratio||
|Gross profit margin (%)||25.3||25.1|
|Net profit margin (%)||9.7||9.3|
|Core profit margin (%)||7.7||7.7|
|Return on Equity (%)||18.9||16.5|
|Return on Asset (%)||14.1||12.6|
|Current ratio (Time)||0.8||0.6|
|Liability to Equity ratio (Time)||0.6||0.7|