mai-listed companies report upbeat net profits, sales in H1

Stocks and Financial Services Press Releases Thursday August 23, 2018 17:02
Bangkok--23 Aug--SET
  • H1 net profits up 39.73 pct y-o-y to THB 3.55 bln
  • Total sales during Jan-Jun rose 16.91 pct to THB 88.55 bln.
  • Almost all industry groups reported better earnings.
  • Technology, Services and Financials among top performing industry groups

Companies listed on Market for Alternative Investment (mai) recorded a combined net profit of THB 3.55 billion (approx. USD 108 million) from Jan-June 2018, up 39.73 percent year-on-year, while their aggregate sales rose 16.91 percent from a year earlier to THB 88.55 billion. The outperforming industry groups, in descending order, were Technology, Services and Financials.

mai President Prapan Charoenprawatt said that the first-half aggregate net profits were compiled from 147 mai-listed companies (that have already released their earnings reports, ending June 30, 2018), representing 97 percent of the total 152 firms (excluding those in the non-compliance or NC group and the others with due dates coming up). There were 107 firms, accounting for 73 percent, recorded net profits. mai-listed companies' cumulative sales increased 16.91 percent year-on-year to THB 88.55 billion, and total costs rose 18.61 percent to THB 68.96 billion, narrowing their gross profit margins to 22.12 percent compared to 23.24 percent in the same period a year earlier.

"The overall picture of mai-listed companies' earnings for the first six months of this year looked encouraging as all industry groups delivered higher sales in accordance with economic condition. However, the higher oil price and the stronger Baht at the beginning of this year weighted down the overall gross profit margins. The increasing in oil price also pushed up production and selling costs, particularly in Industrials Industry Group, and affected Transportation sector on service costs. Listed companies' ability to control selling and administrative expenses and revenue recognition from the recent investments of several firms contributed to the 39.73 percent year-on-year rise in the first-half net profits. Furthermore, seven out of the eight industry groups posted increased earnings, while Property & Construction showed lower net profit.

Total assets of mai-listed firms rose 5.74 percent from end-2017 to THB 264.85 billion and their financial health was still strong with debt-to-equity ratio edging up slightly to 1.03 times from the end of last year," added Prapan.

In the second quarter of 2018, the total sales of mai-listed companies recorded a 17.20 percent increase to THB 44.79 billion, when compared to Q2/2017, while their net profits jumped 63.02 percent to THB 1.72 billion. Their total costs rose 18.16 percent to THB 34.85 billion, pressing their gross profit margins down 0.63 percent to 22.18 percent.

As of August 22, 2018, there were 152 mai-listed companies. The mai Index closed at 434.25 points or 19.64 percent down from the beginning of this year, with a total market capitalization of THB 277.78 billion (approx. USD 8.4 billion) and average daily trading value of THB 1.41 billion.


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