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SSI's 2001 figures lower than expected.
Sahaviriya Steel Industries Plc reported a net loss of 544 million baht, or 0.64 baht per share, for 2001 compared to net profit of 220.5 million baht, or 0.26 baht per share, a year earlier.
The steel maker said sales of hot rolled coils fell to 12,663.5 million baht from 15,876 million baht in 2000. However, sales of steel rose slightly to 253.2 million baht from 242.5 million a year earlier.
SSI and its subsidiaries posted lower gross profit margin for sale and services to 897.1 million baht from 1,844.1 million baht in 2000 due to decreased sales and narrower spread between selling price and cost of raw material. Other income amounted to 81 million baht compared to 57.9 million baht a year earlier.
Sale and administrative expenses totaled 489.6 million baht compared to 549.3 million baht in 2000. Doubtful debts fell to 5.5 million baht from 234.6 million baht. Profit before interest and corporate tax amounted to 494 million baht, down from 1,587.4 million baht in 2000. Long- and short-term loan debts were 1,039.6 million baht, lower than 1,269.8 million baht a year earlier.
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