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.


Latest Press Release

Photo Release: KBank opens new flagship branch and THE WISDOM Lounge at ICONSIAM

Mr. Wirawat Panthawangkul (3rd from left), KBank Senior Executive Vice President, and Ms. Chadatip Chutrakul (4th from left), Director of ICONSIAM Co., Ltd., and Chief Executive Officer of Siam Piwat Co., Ltd., participated in the opening ceremony of...

Photo Release: CIMB Group Joins RippleNet to Power Instant Payments Across ASEAN

Tengku Dato' Sri Zafrul Aziz, Group CEO of CIMB Group (right), and Brad Garlinghouse, Ripple CEO (left) commemorating the strategic collaboration between CIMB Group and Ripple to power instant payments across ASEAN at the Singapore FinTech festival 2018...

CIMB Group Joins RippleNet to Power Instant Payments Across ASEAN

CIMB is one of the first banks to leverage blockchain technology to tap into region's USD120 billion remittance business CIMB Group ("CIMB" or "the Group") and Ripple have entered into a strategic collaboration to enable instant cross border payments...

Fitch Rates EXIM#s USD Senior Notes #BBB+(EXP)#

Fitch Ratings has assigned an expected rating of 'BBB+(EXP)' to Export-Import Bank of Thailand's (EXIM, BBB+/Stable) five-year senior unsecured notes of up to USD300 million. The notes will be issued under the bank's USD1.5 billion medium-term note (MTN)...

KTC joins hands with partners to launch new payment method Garmin Pay.

Mrs. Pittaya Vorapanyasakul (right center), Executive Vice President - Credit Card Business, "KTC" or Krungthai Card Public Company Limited together with Mr. Krairop Luang U-Thai (left center), General Manager, GIS Company Limited, Miss Aileen Chew...

Related Topics