Bangkok--Feb 14--Unique Mining Services
Mr. Somboon Siripaiboonpong, Managing Director of Unique Mining Services Public Company Limited revealed that the company had an outstanding performance in 2004 with revenue from sales of 962.71 million baht increased by 46.95% from 655.13 million baht in 2003. The company posted a net profit of 134.54 million baht in 2004 increased by 86.92 million baht or 182.53% compared to the net profit of 47.62 million baht during the same period last year.
The increase in the net profit derived from its market expansion as well as the change in its distribution approach angling more towards small and medium scale manufacturers which accounted for 60 % of the total revenue resulting in a higher gross margin. At the same time, the management and sales expenditure including interest expense increased minimally.
Somboon said that during the fourth quarter of 2004, the company reported the revenue from sales of 299.60 million baht increased from 178.46 million baht or 67.88% during the same period last year. The company reported the net profit of 42.72 million baht during the fourth quarter of 2004 increased by 27.11 million baht or 173.67% from the net profit of 15.61 million baht during the fourth quarter of 2003, which was the result from the company’s effort in its market expansion as well as adjusting its distribution approach by penetrating the small and medium scale manufacturers leading to a higher net profit margin.
Somboon added that the company’s director meeting on February 11, 2005 has passed the resolution to allocate the approved net profit of 2004 for dividend payment at the rate of 1.50 baht per share accounted for 82.2% of the net profit after tax and provision on April 8, 2005 to the shareholders who have the name list in registered book as of February 28, 2005. The resolution will next be presented to the General Annual Meeting of the Shareholders for approval.
Unique Mining Services PLC is engaging in importing superior quality Bituminous and Sub-bituminous coals from Indonesia for distribution to several domestic industries by improving its quality to match each type of boilers.
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