Bangkok--May 16--Unique Mining Services
Mr. Somboon Siripaiboonpong, Managing Director of Unique Mining Services Public Company Limited (UMS) said that the company’s performance during the first quarter has grown significantly with revenue from sales of 309 million baht increased from the same quarter last year of 178 million baht by 73%. It posted a net profit of 54 million baht increased from 32 million baht or 148% compared to the same period last year with net profit of 22 million baht.
The performance growth attributed to the increasing demand of coal usage by the customers in various industries resulted from the surged oil price. During the first quarter of this year, the company had 10 more new customers who have switched to coal for its production instead of oil. At the same time the average price of coal has increased compared to the same period in 2004, which was the main factor in the overestimated performance.
Somboon said regarding its business plan that the company had bought the land for its new warehouse in Samut Sakorn and the construction is expected to be completed within the first quarter of next year. The capacity of the new warehouse is — times higher than the existing one, which would be able to support its business expansion over the next 10 years. In 2005, the company has projected 20-30% growth.
As for the current oil price situation, Somboon commented that it would be good for the coal business as it would drive the customers’ decision toward coals due to a lower cost with also a sufficient reserve for a longer period.
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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