31 December 2011
SUMMARY OF FINANCIAL STATUS AND OPERATING PERFORMANCE FOR THE YEAR ENDED 31 DECEMBER 2011
No. N-Park 03/02/2012
29 February 2012
Subject: Summary of Financial Status and Operating Performance for the Year Ended 31 December 2011
To: Director and Manager
The Stock Exchange of Thailand
Natural Park Public Company Limited (the “Company”) has recently submitted the audited financial statements for the year ended 31 December 2011 to the Stock Exchange of Thailand with a view to share the information with general investors. The key indicators and changes regarding the operating performance and financial status are as follows:
Operating Performance of the Company
According to the operating performance for the year ended 31 December 2011, the Company had total revenue of Baht 516.57 million, the total expenses of Baht 624.94 million and the loss of owner of the parent of Baht 108.31 million. Therefore, for the year 2011 the Company had increased loss of Baht 347.89 million, compared over the same period of year 2010. The main reason is that the profit in the year 2010 came from gain from sale of Novotel Beach Resort Panwa Phuket Hotel amounting to Baht 250.52 million and the reversal of the provision for liabilities from lawsuit against ACL Bank Public Co., Ltd. amounting to Baht 386.23 million in accordance with the Appeal Court order which resulted in the reduced interest burden for the Company. Compared over the same period of year 2011, in spite of the recognition of profit from settlement of case with a financial institution of Baht 208.06 million and the recognition of profit on disposal of investment of Baht 193.12 million, the Company had more loss from investments in associates amounting to Baht 52.89 million and more expenses on management relating to employees’ benefits (Early Retirement) which increased by Baht 60.06 million.
Financial Status of the Company
As at 31 December 2011, the Company had total assets of Baht 2,067.95 million and total liabilities of Baht 1,757.18 million and total owners’ equity of Baht 310.70 million which decreased by Baht 342.94 million as compared to year 2010.
Please be informed accordingly.
Natural Park Public Co., Ltd.
President and Chief Executive Officer