Thai listed securities post H1 net profits up 7.6 pct to THB 551 bln

Stocks and Financial Services Press Releases Wednesday August 22, 2018 17:00
Bangkok--22 Aug--SET
  • Net profits rose 7.6 pct y-o-y to THB 551 billion during Jan-June.
  • H1 total sales up 9 pct to THB 5.9 trillion, propelled by higher oil price and improved economic growth.

Securities listed on The Stock Exchange of Thailand (SET) delivered an aggregate net profit of THB 551 billion (approx. USD 16.7 billion) for January–June this year, rising 7.61 percent over the same period last year. Industry groups that showedoutstanding earnings in H1 are those gaining from rising oil prices, operating well-being businesses including financial businesses.

SET Executive Vice President Rungtip Charoenvisuthiwong stated that 554 SET-listed securities, accounting for 95.18 percent of the total 582 securities (excluding mai-listed securities, non-compliance or NC and non-performing groups or NPG), submitted their first-half financialreports, ended June 30. Among these securities, 459 reported net profits, representing 83 percent, a slight rise from 2017's average at 82 percent.

For the first six months through June, listed securities' total sales surged 9.01 percent from a year earlier to THB 5.88 trillion, with gross profits up 10.58 percent to THB 1.38 trillion, and net profits up 7.61 percent to THB 550.85 billion. Listed securities' gross profit margin was 23.49 percent, a rise from 23.16 percent year-on-year.

"During the first six months of 2018, in line with improved economic condition and a surge of more than 30 percent year-on-year in crude oil price to USD 70 per barrel helped boosting industry groups almost across the board to record stronger sales, excluding those in Agro & Food and Consumer Products affected by Baht appreciation and agriculture price fluctuation.

Three industry groups that showed outstanding earnings are 1) those benefitting from higher oil prices such as Energy & Utilities, Petrochemicals & Chemicals, etc.; 2) Services industry groups especially those operating well-being sectors in which Thailand has competitive advantage, including Commerce, Tourism & Leisure, and Transportation & Logistics; and 3) Financials Industry group such as Banking and Finance & Securities, etc.

In the second half of this year, Thai listed securities expect to remain its sales growth supported by the economic condition. However, businesses have to overcome the challenging factors on the oil price and currency volatility in the period ahead," added Rungtip.

Listed securities' financial position at the end of Q2 remained solid, with a steady debt-to-equity ratio at 1.15 times similar to the end of 2017 (excluding those in Financials Industry Group).

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