Consolidated financial statements. Revenue department receivable - 43,004-43,004. Other current assets 84,045 58,192 74,975 40,119

Transcription

1 Balance sheets Note 30 September December September December 2007 (Unaudited (Audited) (Unaudited (Audited) Assets Current assets Cash and cash equivalents 5 166, , , ,650 Trade accounts receivable - net 2, 5 126, , , ,534 Inventories - net 3 2,835,988 2,547,569 2,835,988 2,547,569 Revenue department receivable - 43,004-43,004 Other receivables 5 257, , , ,222 Other current assets 84,045 58,192 74,975 40,119 Total current assets 3,471,352 3,263,855 3,436,052 3,224,098 Non-current assets Investment in subsidiary ,999 4,999 Property, plant and equipments - net 6 8,333,211 8,339,582 8,321,845 8,326,001 Leasehold rights and software - net 7 647, , , ,577 Property foreclosed 4,174 4,174 4,174 4,174 Rental guarantee deposits 5 37,507 34,619 37,507 34,619 Other non-current assets 11,505 2,469 2,363 2,469 Total non-current assets 9,033,704 9,010,429 9,018,188 9,001,839 Total assets 12,505,056 12,274,284 12,454,240 12,225,937

2 Balance sheets (continued) Note 30 September December September December 2007 (Unaudited (Audited) (Unaudited (Audited) Liabilities and shareholders' equity Current liabilities Bank overdrafts and short-term loans from financial institutions 8 237, , , ,000 Trade accounts payable 5 3,529,712 3,206,355 3,527,756 3,202,571 Current portion of liabilities under financial lease agreements 9 10,901 12,936 10,901 12,936 Short-term loans from related party ,000 50,000 Current portion of debentures , , , ,000 Current portion of long-term loans , , , ,000 Payables from purchases of assets 77, ,470 77, ,470 Accrued expenses 330, , , ,637 Corporate income tax payable 86, ,843 86, ,843 Advances received from customers 547, , , ,675 Other payables 5 190, , , ,233 Other current liabilities 162,985 73, ,050 72,059 Total current liabilities 6,199,157 5,807,696 6,226,758 5,825,424 Non-current liabilities Liabilities under financial lease agreements - net of current portion 9 6,754 10,289 6,754 10,289 Debentures - net of current portion , , , ,000 Long-term loans - net of current portion , , , ,000 Rental received in advance , , , ,403 Other non-current liabilities 87,378 93,418 21,150 33,318 Total non-current liabilities 1,692,337 2,143,110 1,626,109 2,083,010 Total liabilities 7,891,494 7,950,806 7,852,867 7,908,434

3 Balance sheets (continued) Note 30 September December September December 2007 (Unaudited (Audited) (Unaudited (Audited) Shareholders' equity Share capital 12, 13 Registered share capital 1,986,468,146 ordinary shares of Baht 1 each (31 December 2007: 1,988,546,860 ordinary shares of Baht 1 each) 1,986,468 1,988,547 1,986,468 1,988,547 Issued and paid-up share capital 1,933,533,147 ordinary shares of Baht 1 each (31 December 2007: 1,924,920,422 ordinary shares of Baht 1 each) 1,933,533 1,924,920 1,933,533 1,924,920 Share premium 566, , , ,694 Retained earnings Appropriated - statutory reserve 161, , , ,700 Unappropriated 1,951,922 1,712,162 1,939,736 1,706,189 Equity attributable to the Company's shareholders 4,613,559 4,323,476 4,601,373 4,317,503 Minority interest - equity attributable to minority shareholders of subsidiary Total shareholders' equity 4,613,562 4,323,478 4,601,373 4,317,503 Total liabilities and shareholders' equity 12,505,056 12,274,284 12,454,240 12,225, Directors

4 (Unaudited Home Product Center Public Company Limited and its subsidiary Income statements For the three-month periods ended 30 September 2008 and 2007 Note Revenues Sale of goods 5 4,689,361 3,957,991 4,689,767 3,958,118 Rental and service income 5 122, ,895 96,703 96,768 Other income 5 146, , , ,640 Total revenues 4,958,398 4,168,543 4,943,963 4,158,526 Expenses Cost of sales 5 3,553,118 3,041,134 3,553,118 3,041,134 Administrative expenses 5 1,039, ,061 1,027, ,803 Total expenses 4,592,773 3,901,195 4,580,381 3,881,937 Income before interest expenses and income tax 365, , , ,589 Interest expenses 5 (31,475) (39,949) (31,943) (40,595) Corporate income tax 14 (104,152) (63,345) (103,249) (65,923) Net income for the period 229, , , ,071 Net income attributable to: Equity holders of the parent 229, , , ,071 Minority interests of the subsidiary 1 (1) 229, ,054 (Unit: Baht) Earnings per share 15 Basic earnings per share Net income attributable to equity holders of the parent Diluted earnings per share Net income attributable to equity holders of the parent

5 (Unaudited Home Product Center Public Company Limited and its subsidiary Income statements Note Revenues Sale of goods 5 13,357,781 11,522,977 13,358,803 11,523,349 Rental and service income 5 422, , , ,129 Other income 5 406, , , ,558 Total revenues 14,186,996 12,221,279 14,128,570 12,153,036 Expenses Cost of sales 5 10,187,805 8,868,244 10,187,805 8,868,244 Administrative expenses 5 3,001,455 2,580,934 2,950,208 2,520,746 Total expenses 13,189,260 11,449,178 13,138,013 11,388,990 Income before interest expenses and income tax 997, , , ,046 Interest expenses 5 (94,839) (133,658) (96,155) (135,471) Corporate income tax 14 (286,049) (168,746) (283,768) (166,030) Net income for the period 616, , , ,545 Net income attributable to: Equity holders of the parent 616, , , ,545 Minority interests of the subsidiary , ,697 (Unit: Baht) Earnings per share 15 Basic earnings per share Net income attributable to equity holders of the parent Diluted earnings per share Net income attributable to equity holders of the parent

6 (Unaudited Home Product Center Public Company Limited and its subsidiary Statements of cash flows Cash flows from operating activities Income before tax 902, , , ,575 Adjustments to reconcile net income to net cash provided by (paid for) operating activities: - Depreciation and amortisation 539, , , ,348 Allowance for doubtful accounts (reversal) 2,658 (4,420) 2,658 (4,420) Allowance for stock obsolescence 39,827 29,638 39,827 29,638 Loss from sales of assets 1,777 2,588 1,681 2,584 Allowance for impairment of assets 16,580 21,800 16,580 21,800 Unrealised exchange losses - net Interest expenses 94, ,658 96, ,471 Income from operating activities before changes in operating assets and liabilities 1,597,631 1,305,585 1,587,445 1,295,218 Decrease (increase) in operating assets Trade accounts receivable 13,993 (17,092) 14,795 (18,503) Inventories (328,246) (140,810) (328,246) (140,810) Value added tax receivable 43,004 19,417 43,004 19,417 Rental guarantee deposit (2,888) (5,331) (2,888) (5,331) Other receivables (21,170) 45,620 (22,187) 31,590 Other current assets (25,853) (20,346) (34,856) (14,264) Other non-current assets (9,036) Increase (decrease) in operating liabilities Trade accounts payable 323,336 (122,491) 325,163 (121,677) Other payables 36,795 7,510 38,977 9,815 Advances received from customers 159, , , ,474 Accrued expenses 92,184 8,776 96,212 7,377 Other current liabilities 89,196 68,160 88,991 67,518 Rental received in advance (16,198) (17,244) (16,198) (17,244) Other non-current liabilities (6,040) (11,659) (12,169) (9,187) Cash from operating activities 1,946,070 1,280,023 1,937,511 1,263,847 Cash paid for interest expenses (93,800) (134,393) (95,116) (136,206) Cash paid for corporate income tax (338,843) (200,937) (334,520) (198,148) Net cash flows from operating activities 1,513, ,693 1,507, ,493

7 (Unaudited Home Product Center Public Company Limited and its subsidiary Statements of cash flows (continued) Cash flows from investing activities Decrease in current investment - 525, ,000 Acquisition of software (5,887) (15,337) (5,887) (15,337) Acquisition of leasehold rights (41,607) - (41,607) - Settlement of payables from purchases of assets (142,470) (224,475) (142,470) (224,475) Proceeds from sales of assets Acquisition of assets (444,536) (1,041,594) (443,741) (1,039,520) Net cash used in investing activities (633,987) (756,169) (633,195) (754,096) Cash flows from financing activities Increase (decrease) in bank overdrafts and short-term loans from financial institutions (317,397) 824,696 (317,397) 824,696 Increase in short-term loans from related party ,000 Increase in long-term loans - 100, ,000 Decrease in liabilities under financial lease agreements (5,570) (6,146) (5,570) (6,146) Increase in debentures 500, ,000 - Repayment of debentures (540,000) - (540,000) - Repayment of long-term loans (258,000) (776,000) (258,000) (776,000) Converted warrants to share capital 19,723 5,075 19,723 5,075 Dividend paid (346,487) (230,439) (346,487) (230,439) Net cash used in financing activities (947,731) (82,814) (947,731) (52,814) Net increase (decrease) in cash and cash equivalents (68,291) 105,710 (73,051) 122,583 Cash and cash equivalents at beginning of period 235, , , ,324 Cash and cash equivalents at end of period 166, , , ,907

8 Statements of changes in shareholders' equity (Unaudited Issued and paid-up Retained earnings Minority share capital Share premium Appropriated Unappropriated interest Total Balance as at 1 January 2007 (Previously reported by an other auditor) 1,919, ,694 95,400 1,346, ,917,544 Cumulative effect of prior periods error adjustment for recording of purchase discount (Note 1.6) (79,105) - (79,105) Balance as at 1 January 2007 (as restated) 1,919, ,694 95,400 1,267, ,838,439 Converted warrants to share capital (Note 12) 5, ,075 Statutory reserve ,200 (23,200) - - Dividend paid (Note 19) (230,439) - (230,439) Net income for the period , ,696 Minority interest Balance as at 30 September ,924, , ,600 1,483, ,082,772 Balance as at 1 January ,924, , ,700 1,712, ,323,478 Converted warrants to share capital (Note 12) 8,613 11, ,723 Statutory reserve ,600 (30,600) - - Dividend paid (Note 19) (346,487) - (346,487) Net income for the period , ,847 Minority interest Balance as at 30 September ,933, , ,300 1,951, ,613,562

9 Statements of changes in shareholders' equity (Unaudited Issued and paid-up Retained earnings share capital Share premium Appropriated Unappropriated Total Balance as at 1 January 2007 (Previously reported by an other auditor) 1,919, ,694 95,400 1,346,258 3,917,170 Cumulative effect of prior periods error adjustment for recording of purchase discount (Note1.6) (79,105) (79,105) Balance as at 1 January 2007 (as restated) 1,919, ,694 95,400 1,267,153 3,838,065 Converted warrants to share capital (Note 12) 5, ,075 Statutory reserve ,200 (23,200) - Dividend paid (Note 19) (230,439) (230,439) Net income for the period , ,545 Balance as at 30 September ,924, , ,600 1,476,059 4,075,246 Balance as at 1 January ,924, , ,700 1,706,189 4,317,503 Converted warrants to share capital (Note 12) 8,613 11, ,723 Statutory reserve ,600 (30,600) - Dividend paid (Note 19) (346,487) (346,487) Net income for the period , ,634 Balance as at 30 September ,933, , ,300 1,939,736 4,601,373