78JZ Sg Issuer 25

RNS Number:1176N
First Pacific Capital (1997) Ld
14 November 2001


FIRST PACIFIC COMPANY LIMITED

PRESS RELEASE

Wednesday, 14 November 2001

BERLI JUCKER ANNOUNCES 40% INCREASE IN THIRD QUARTER NET INCOME TO BAHT 167
MILLION

The attached press release was distributed today by Berli Jucker, in which
First Pacific has an 83.5 per cent economic interest.

Berli Jucker is based and listed in Bangkok. It focuses on the manufacturing,
marketing and distribution of glass, consumer, technical products and imaging.
Further information on Berli Jucker can be found at www.berlijucker.co.th


                                    * * *

For further information, please contact:

Berli Jucker Public Company Limited
David J. Nicol                                   Tel: (662) 367 1024
President and Chief Executive Officer            E-mail: djn@bjc.co.th

Steve Weissman                                   Tel: (662) 367 1005
Chief Financial Officer                          E-mail: steve@bjc.co.th


                                 NEWS RELEASE

 BERLI JUCKER ANNOUNCES 40% INCREASE IN THIRD QUARTER NET INCOME TO BAHT 167
                                   MILLION

Berli Jucker Public Co. Limited announced today that consolidated net income
for the third quarter of 2001 was Baht 167.4 million, representing a 40%
increase from the third quarter of 2000. For the nine-month period,
consolidated net income was Baht 467.7 million, an 11% increase from the
consolidated net income for the first nine months of 2000.


Consolidated sales revenues for the third quarter of 2001 were Baht 2,838
million, an increase of 11% over the comparative period in 2000. For the
nine-month period, consolidated sales revenues of Baht 8,276 million,
increased by 9% compared with the equivalent period in 2000.


Commenting on the results for the third quarter, Mr. David J. Nicol, Berli
Jucker's President and Chief Executive Officer, said:


"I am very pleased to report that our Consumer, Packaging and Technical
businesses have all enjoyed sales increases in the third quarter of 2001
compared with the same period last year. Our Imaging business, however,
recorded declines.


Consumer product sales of Baht 1,062 million for the third quarter were 10%
higher than the same period in 2000, led by a 27% rise in our snack foods
business due to the overwhelming success of our Campus products and the
continuing strength of our Tasto fresh potato chips. Tissue paper sales rose
15% from the third quarter last year with strong growth coming from the
private label and institutional sanitary business sectors. Gross profit in our
snack foods and tissue paper businesses also benefited from lower raw material
costs.


Sales revenues from Packaging products during the third quarter of 2001, at
Baht 992 million, were 13% better than the equivalent period last year, due to
strong sales of beer, whisky and soft drink bottles which were partly offset
by lower sales to the energy drink sector. Packaging products achieved net
profits after taxes of Baht 113 million, an increase of 45%, for the third
quarter aided by higher capacity utilisation and lower oil prices.


Sales in our Technical business increased by 22% to Baht 488 million in the
third quarter of this year compared with the same period last year. This
strong growth was driven primarily by sales in our Medical Products and
Specialties businesses, due primarily to strong sales of pharmaceuticals and
food ingredients, respectively. With good margins realized in our Medical
Products business during the third quarter, gross profit margin in our
Technical division increased by 1.6% compared with the equivalent period in
2000.


Sales in our Imaging products division decreased by 22% to Baht 205 million in
the third quarter compared with the same period last year due primarily to
significantly increased competition. The decreased sales resulted in gross
margins declining by 2.7% in the quarter compared with the equivalent quarter
of 2000.


The Group's gross profit margin for the third quarter of 2001 at 26.4% was an
improvement over the 25.6% gross profit margin realized in the third quarter
of 2000. In aggregate, our margins have benefited from increased capacity
utilisation in our packaging and tissue paper businesses and from lower raw
material and energy costs."


Mr. Nicol went on to comment on Berli Jucker's prospects for the remainder of
2001:


"I anticipate the last quarter of this year should also be relatively strong
for the Berli Jucker Group, similar in fact to the first nine months of the
year."


November 14, 2001

                 BERLI JUCKER PUBLIC CO. LTD. AND SUBSIDIARIES

            SUMMARY OF FINANCIAL POSITION AND RESULTS OF OPERATIONS

BALANCE SHEET AS AT                              (AMOUNTS IN THOUSANDS OF BAHT)
                                                                  30         31
                                                           September   December
                                                                2001       2000
Current Assets                                             6,329,185  4,924,304
Total Assets                                              12,759,532 12,187,488
Current Liabilities                                        5,350,659  5,123,446
Shareholders' Equity                                       6,568,680  6,179,043


STATEMENTS OF INCOME

                                    Three Months Ended     Nine Months Ended
                                       September 30           September 30
                                         2001       2000        2001       2000
Revenue on sales                    2,838,585  2,562,884   8,276,277  7,597,678
Total Revenues                      2,865,262  2,586,315   8,363,073  7,847,135
Cost of sales                       2,088,675  1,906,309   6,094,170  5,667,660
Other expenses                        563,084    524,059   1,677,657  1,640,085
Operating profit                      213,503    155,947     591,246    539,390
Share of profits less losses of        12,518      7,571      41,818     12,924
associated companies
Net profit                            167,441    119,410     467,745    419,517
Basic earnings per share (Baht)          1.05       0.75        2.95       2.64
Number of equity shares (Share        158,813    158,813     158,813    158,813
000)

Consolidated net income for the third quarter of 2001 was Baht 167.4 million,
representing a 40% increase from the third quarter of 2000. Consolidated sales
revenues for the third quarter of 2001 were Baht 2,838 million, an increase of
11% over the comparative period in 2000. Consumer, Packaging and Technical
businesses have all enjoyed sales increases in the third quarter of 2001
compared with the same period last year. The Group's gross profit margin for
the third quarter of 2001 at 26.4% was an improvement over the 25.6% gross
profit margin realized in the third quarter of 2000. In aggregate, our margins
have benefited from increased utilisation in our packaging and tissue paper
businesses and from lower raw material and energy costs.

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