First Pacific Company Limited

Press Release

27th August 1996

First Pacific Company Limited's associated company in Thailand, Berli Jucker Public Company Limited ("Berli Jucker"), today announced its half year results: Consolidated total revenues grew by 13 per cent to Baht 4.9 billion (HK$ 1.5 billion); net profit for the first six months of the year grew by 25 per cent to Baht 285.2 million (HK$ 87.2 million); and earnings per share grew by 25 per cent to Baht 4.94 (HK$ 1.51).

Commenting on the results, Dr Amatavivadhana, Berli Jucker's President noted: "The Group's results for the year to date reflect very strong performances from our consumer products and glass containers businesses and generally low financing costs."

With respect to the second quarter results, which saw consolidated total revenue growth of 13 per cent and consolidated net profit growth of 21 per cent, Dr. Adul went on to say:

"Our performance in the second quarter reflected a continuation of the trend established in the first quarter: very strong growth from our consumer products group, more moderate growth from glass containers and technical products and mixed results from our engineering businesses.

"The growth in our consumer business is being driven by increasing market share for our tissue products, wines and snack foods and significantly increased profitability at Cellox Paper.

"The Glass containers business is benefiting from our increase in production capacity in 1995 although we have recently seen some softening in demand.

"The Company's engineering division continues to be profitable and our Siemens Limited and BJ Thames Water associates both achieved exciting growth in profitability. However, these advances were largely offset by losses at our steel tower making subsidiary, Thai Scandic Steel."

Commenting on the outlook for the balance of the year, Dr Adul went on to say:

"In the third quarter of 1995 we booked a large gain on restructuring our investment with Siemens and there will be no similar gain in 1996. Some softening in demand for glass containers and certain technical products is anticipated in the balance of the year but I expect to see improving profit performances from our consumer products group which has recently launched a new range of snack foods, and our engineering businesses."

Dr Adul Amatavivadhana, President
Berli Jucker Public Company Limited
Tel: (662) 367 1012

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