SET Announcements
CLARIFIES FOR Q3/1997 RESULT
13 November 1997
Noble Development Plc lost Bt240.65 m compared with Bt104.76 m net
profit as projected earlier for the 9-month period. The company would like
to notify reasons of that as follows:
After the baht was floated, it must realise Bt136.8 m value of loss
from exchange rate and recorded Bt99.98 m of unrealised loss.
After borrowing extension was slowed down, possession transfer of number
of projects also reduced among severe recession. Some projects saw revenue
realised 60% lower than projected.