mai-listed companies report THB 8.7 bln net profit during Jan-Sep

Thursday 28 November 2019 16:54
Companies listed on Market for Alternative Investment (mai) recorded total sales of THB 139.6 billion (approx. USD 4.7 billion) from Jan-Sep 2019, up 2.4 percent from a year earlier, with combined net profit increasing 69 percent year-on-year to THB 8.7 billion, boosted by realized gain from the divestment of a firm listed in Resources industry group. While their operating profits fell 19.2 percent y-o-y to THB 4.7 billion.

mai President Prapan Charoenprawatt said that 158 mai-listed companies, representing 95 percent of the total 166 companies (excluding those in the non-compliance or NC group and those with different accounting period end dates), submitted financial reports, ended September 30, 2019. There were 112 companies posted net profits, accounting for 71 percent of the total listed companies already disclosed their financial statements.

mai-listed companies' aggregate sales for the first nine months of 2019 rose 2.4 percent from the same period a year earlier to THB 139.6 billion, while their costs increased 2.9 percent to THB 110.5 billion, slightly narrowing the gross profit margin to 20.81 percent from 21.22 percent. Their operating profits fell 19.2 percent year-on-year to THB 4.7 billion, with operating profit margin reducing to 3.37 percent from 4.28 percent, but the 69 percent rise in aggregate net profit to THB 8.7 billion boosted the net profit margin to 5.85 percent from 3.63 percent.

The total sales of mai-listed companies for Q3/2019 edged 0.4 percent lower compared to the same period last year to THB 46.3 billion, and operating profit dropped 11.1 percent to THB 1.7 billion. Net profit soared 173.3 percent to THB 4.6 billion due to realized gain from the divestment of a firm listed in Resources industry group.

"From Jan-Sep period, mai-listed companies' sales and net profit rose, despite the operating profit drop in the third quarter weaken by the increase in selling, general & administrative expense as the lower purchasing power in domestic market has prompted the intensified competition," Prapan said.

Regarding listed companies' financial position at end-Q3/2019, their total assets increased 4.7 percent from end-2018 to THB 271.97 billion, while financial structure remained strong with debt-to-equity ratio inching lower to 1.03 times from 1.07 at end-2018.

As of November 27, 2019, there were 166 mai-listed companies. The mai Index closed at 323.00 points, with a total market capitalization of THB 221.4 billion (approx. USD 7.4 billion) and average daily trading value of THB 749 million.