Thai listed firms# 2017 earnings up 9 pct to nearly THB 1 trillion

Stocks and Financial Services Press Releases Wednesday March 7, 2018 08:32
Bangkok--6 Mar--SET
  • 2017 net profits worth THB 990 billion, up 8.9 pct from last year
  • Economic expansion, higher oil prices, recovering exports and tourism support positive net profits

Companies listed on The Stock Exchange of Thailand (SET) and Market for Alternative Investment (mai) reported a combined net profit of THB 990 billion (approx. USD 31 billion) in 2017, a 8.9 percent rise from a year earlier. This was underpinned by promising growth of Thai economic especially in export and tourism sectors, while higher oil prices pushed up SET's Energy & Utilities sector's earnings growth.

The 2017 aggregate earnings of SET-listed firms ending December 31, 2017, were compiled from 566 listed firms, or 97.75 percent of the total 579 companies (including property funds, real estate investment trusts and infrastructure funds, excluding non-compliance and non-performing groups). Combined sales of companies listed on SET were up 9.72 percent to THB 11.01 trillion and their earnings up 9.05 percent to THB 982 billion boosted by the growing performance in the Energy & Utilities as a result of risingcrude oil price. However, net profit of the Banking sector decreased slightly from the increase of bad loan provisions. The companies listed on Market for Alternative Investment (mai) also reported the 2017 net profit of THB 4.97 billion.

In the fourth quarter of 2017, the continuing Thai economic growth pushed the combined net profit of SET-listed companies up 25.26 percent to THB 251 billion from the same quarter of 2016 and up 20.47 percent from Q3/2017, while their sale in Q4/2017 rose to THB 2.9 trillion.

Listed firm's profitability slightly decreased with gross profit margins down to 23.96 percent from 24.71 percent a year earlier and the net profit margins was at 8.92 percent, slightly down from 8.98 percent. However, their capital structures remained strong, with debt-to-equity ratio (excluding Financial industry) at end-2017 was 1.14 times, down from 1.24 times at end-2016.

SET President Kesara Manchusree said, "Thailand's economic growth in 2017, estimated at 4.0 percent, with prominent growth in the second half, was led by export and services industries, while tourism has continuously grown, as such boosting up listed firms' net profits, in addition to healthy performance of listed companies in the Energy & Utilities sector. Moreover, those in Petrochemicals & Chemicals, Commerce, Tourism & Leisure, Transportation & Logistics sectors reported growing sales and profit growth as well as gross profit margin growth compared to 2016.

The companies listed on Market for Alternative Investment (mai) also reported the 2017 net profit of THB 4.97 billion, a 13.54 percent drop year-on-year compared to 2016, with gross profit margin decrease to 23.20 percent from 24.80 percent a year earlier. "

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