mai-listed companies report THB 1.09 billion net profit in H1

Stocks and Financial Services Press Releases Monday August 24, 2020 08:45
Bangkok--24 Aug--SET

H1 total sales down 7.9 pct to THB 82.54 billionCumulative net profit during Jan-June down 73 pct to THB 1.09 billionAgro & Food Industry, Industrials and Technology industry groups reported higher net profits

Companies listed on Market for Alternative Investment (mai) posted total sales of THB 82.54 billion and cumulative net profit of THB 1.09 billion. Three industry groups: Agro & Food Industry, Industrials and Technology delivered higher net profits.

mai President Prapan Charoenprawatt said that 162 mai-listed companies, accounting for 95 percent of the total 171 firms (excluding those in the non-compliance or NC group, those with different accounting period end dates and those not submitting financial reports in time), submitted financial statements ended June 30, 2020. There were 99 companies, representing 61 percent of the total listed companies already disclosed their financial statements, reporting net profits.

mai-listed companies' first-half sales totaled THB 82.54 billion, a 7.9 percent drop from a year earlier, while the costs were THB 64.71 billion, an 8.2 percent decrease, with operating profit amounting to THB 3.07 billion, an 8.3 percent fall. Some listed companies realized loss from extra items as such the overall aggregate net profit was reported at THB 1.09 billion, a 73 percent drop. For profitability ratio, mai-listed firms' gross profit margin and operating profit were steady at 21.6 percent and 3.7 percent, respectively, while net profit margin was down to 1.3 percent from 4.3 percent in line with the net profit decline.

“From the overall performance in the first half, most listed companies were battered by the COVID-19 pandemic which delayed purchase orders and activities in compliance with the government’s restrictions to curb the spread, ultimately lowering total sales. Notably, a number of listed companies were able to effectively control costs and expenditure, eventually maintaining their profitability. Agro & Food Industry, Industrials and Technology industry groups managed to deliver net profit growth,” Prapan stated.

During April-June, mai-listed companies’ total sales reported a total of THB 38.4 billion, a 14.2 percent drop from the same period in previous year, while operating profit surged to THB 1.40 billion, or 12.2 percent and net profit lowered to THB 338 million, or 84.9 percent.

"Regarding mai-listed firms’ financial position, their combined assets rose 2.5 percent from end-2019 to THB 285.79 billion. The overall capital structure remained strong, with debt-to-equity ratio at 1.11 times – albeit a rise from 1.02 times," added Prapan.

As of August 20, 2020, there were 171 mai-listed companies, and the mai Index closed at 300.60 points, with market capitalization of THB 218.21 billion. The average daily trading value amounted to THB 994 million.

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