Bangkok--20 Aug--SET
- Q2 net profits of listed companies up 5.65 pct y-o-y to THB 213 bln
- Falling oil prices dragged sales down 7.89 but gross profit margins up 23.18 pct
Companies listed on The Stock Exchange of Thailand (SET) reported a net profit of THB 213 billion (approx. USD 6.1 billion) in April-June, up 5.65 percent from a year earlier, with Property Development, Commerce, Health Care Services, Electronic Components, Finance & Securities sectors (only retail finance), being the top five best performers both in the second quarter and the first half.
Aggregate earnings were compiled from 511 listed firms, or 93.42 percent of the total 547 companies (excluding those in the non-compliance and non-performing groups), in their financial statements ending June 30. Among those reporting firms, 409 firms, or 80.04 percent, made net profits. However, second-quarter sales dropped 7.89 percent to THB 2.59 trillion (USD 740.56 billion).
SET Executive Vice President Santi Kiranand said, “Effective cost management was contributable to the overall performance of the Thai listed companies in the second quarter although decreasing oil prices dragged sales down in the second quarter and the first half of this year, especially those in Energy and Utilities and Petrochemicals & Chemicals sectors. Obviously, Q2 gross profit margin was up to 23.18 percent from 19.69 percent a year earlier and net profit margin shore up to 8.22 percent from 7.17 percent. Meanwhile, excluding companies in Energy & Utilities and Petrochemicals & Chemicals sectors, aggregated sales and net profits of listed companies increased from a year earlier.”
In the first six month, even though the total net profit was THB 442.27 billion (USD 12.64 billion), up 3.81 percent, total sales fell 9.35 percent to THB 5.12 trillion (USD 146.15 billion). Moreover, Gross profit margin rose to 22.60 percent from 19.37 percent and net profit margin rose to 8.65 percent from 7.55 percent which demonstrated resiliences amid sluggish economy.
Thai listed companies’ financial status remained strong with debt to equity ratio (excluding Financials industry) was at 1.32 times, while interest coverage ratio rose to 6.05 times.