Ref. SEAFCO- 08- 004
February 28, 2008
Subject Notification about operation of the period ended December 31, 2007 compared to the period ended December 31, 2006
Attention President The Stock Exchange of Thailand
Seafco Public Company Limited, Subsidiary and Joint Venture would like to report the comparison of the operation income for the periods ended December 31, 2007 with the same period in 2006, decreasing more than 20%. The significant effectively of the decreasing operating income are as follows:-
1. In Consolidated financial statement of seafco and subsidiaries, the contract revenue for the year 2007 were Baht 1,854.88 million compared to Baht 2,303.12 million in year 2006, decreasing 19.46%. For Seafco financial statement, the contract revenue for the year 2007 was Baht 1,834.13 million compared to Baht 2,303.12 million in year 2006, decreasing 20.36% as a result of late starting work due to application for EIA permission.
2. In Consolidated financial statement of seafco and subsidiaries, administrative and other expenses for year 2007 were Baht 98.22 million compared to Baht 98.95 million in year 2006, decreasing 0.74%. For Seafco financial statement, administrative and other expenses for year 2007 was Baht 97.77 million compared to Baht 98.87 million in year 2006, decreasing 1.11%
3. In Consolidated financial statement of seafco and subsidiaries, the Company net profit for year 2007 was Baht 22.73 million compared to Baht 162.66 million in year 2006, decreasing 86.14%. For Seafco financial statement, the Company net profit for year 2007 was Baht 12.11 million compared to Baht 162.77 million in year 2006, decreasing 92.56% as a result of provision of doubtful account total amount Baht 47.14 million.
Sincerely yours,
(Mr. Narong Thasnanipan)
President
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