Bangkok--May 15--Siam Makro Plc
Siam Makro Public Company Limited, operator of Thailand’s leading cash-and-carry trade centres, Makro Auto Care Service Centres (MAX) and Makro Office Centres announced yesterday its first quarter consolidated results ending 31 March 1998. The company reported a profit of Bht. 137.98 million on total revenues of Bht. 8,078 million. “In this tough operating environment with reduced consumer spending and fierce competition, we are pleased that our results are in line with expectations and that we were able to grow revenues by around 4.9% against the same period last year,” said Mr. Arnold M. L. Tobac, president of Siam Makro Plc. The company also expects to see benefits from “the firm control of direct operational costs and even greater efficiency in operations,” according to Mr. Tobac. Siam Makro plans to invest Bht. 2,000 million in 1998 for new store openings with Bht. 200 million to be put towards IT in a major upgrade of its systems to be completed by end of 1998.
Siam Makro currently operates 16 stores around Thailand with approximately 170,000 square meters of selling space. Five stores are in Bangkok and 11 are upcountry. Makro Auto Care was launched in 1992. There are currently 31 MAX Service Centres, 25 Car Wash Centres and 13 Gas Stations around the country. Makro Office Centre’s first store was opened in 1995, now there are six stores in operation.
For further information please contact Bangkok Public Relations, Khun Panta Poonsapmanee or Khun Wichitra Khemalaap Tel. 652-1946-7 . End.