Home Product Center Public Company Limited Announces Resignation of Joompol Meesook as Director and Nomination and Remuneration Committee, Effective from May 1, 2015
Apr 28 15
Home Product Center Public Company Limited announced that Mr. Joompol Meesook has resigned from the Director and Nomination and Remuneration Committee due to his other business engagement which cause him unable to in charge in these positions. The resignation will be effective from May 1, 2015 onwards. The board of directors is in the process of recruiting new eligible director to replace the available position.
Home Product Center Public Company Limited Reports Consolidated and Parent Earnings Results for the First Quarter Ended March 31, 2015
Apr 27 15
Home Product Center Public Company Limited reported consolidated and parent earnings results for the first quarter ended March 31, 2015. For the period, the consolidated net profit of THB 733.7 million or THB 0.06 per share against net profit of THB 725.73 million or THB 0.06 per share a year ago. The main reasons for increase in net profit are as follows: total revenues were THB 13,096.28 million, an increase of THB 1,270.11 million or up by 10.74% over the last year, comprising of the following: sales income was THB 12,280.29 million, an increase of THB 1,201.96 million or up by 10.85%, which was driven by sales of new stores expansion of HomePro, Mega Home and HomePro in Malaysia opening since 2014 as well as sales of HomePro new store (Sukhothai branch) which was opened in February 2015. Rental and service income amounted to THB 339.69 million, an increase of THB 27.42 million or up by 8.78%, which resulted mainly from an increasing in rental income from Hua-Hin Market Village, higher rental income from the additional Home Pro’s leasable areas. Other income was THB 476.29 million, an increase of THB 40.74 million or up by 9.35%. This increase is mainly due to growing joint- advertising income and increasing in-store promotion with vendors and service income from customers under “Home Care” program. Gross profit for the first quarter of 2015 was THB 3,174.47 million, an increase of THB 287.41 million or up by 9.96% over the last year, resulting from the increase in sales during the year. However, gross profit margin has slightly decreased from 26.06% in the previous year to 25.85% due to the blended margin of Homepro business and Mega Home business which has a lower gross margin structure. Selling and Administrative Expenses amounted to THB 2,936.56 million, an increase of THB 315.70 million or up by 12.05% over the last year. This increase is mainly from salaries, consumable expenses, cost of transportation, marketing expenses, depreciation and pre-operational cost of Mega Home business as well as that of the new business in Malaysia. Finance cost was THB 136.26 million, an increase of THB 35.32 million or 34.99% over the last year, as a result of debentures issuance in 2014 and in first quarter of 2015. However, the company has been monitoring the financial debt to equity ratio to be in an appropriate level. Corporate income tax was THB 183.96 million, a decrease of THB 3.39 million or -1.81% as compared with the previous year. This is due to the revised deferred-tax calculation in accordance with Thai Financial Reporting Standards.
For the period, the parent net profit of THB 803.1 million or THB 0.06 per share against net profit of THB 731.7 million or THB 0.06 per share a year ago.
Home Product Center Public Company Limited Approves Amendments to its Memorandum of Association
Apr 9 15
The shareholders of Home Product Center Public Company Limited approved amendments to Clause 4 of its Memorandum of Association to be in line with the decrease of the registered capital at the AGM held on April 9, 2015.