Bangkok--20 Aug--SET
- Sales of mai-listed firms up 4.04 pct y-o-y in Q2
- Net profits slightly down due to no extra gains recorded
- Gross profit margin increased y-o-y to 24.2 percent
Companies listed on Market for Alternative Investment (mai), under The Stock Exchange of Thailand (SET) group, reported a 4.04 percent increase in Q2 sales year-on-year to THB 30.75 billion (USD 878.5 million), while net profit slightly dropped 0.74 percent to THB 1.58 billion (USD 45.14 million), from THB 1.59 billion a year earlier.
The aggregate number was from the 112 mai-listed firms of the total 116 companies (excluding those in the non-compliance groups, and the other's due date is coming up). Among those reporting firms, 75 companies, or 67 percent, reported net profits, said mai President Prapan Charoenprawatt.
“Although the mai-listed companies had encountered economic slowdown, their effective cost management to maximize revenue together with sales promotion to stimulate sales helped maintain sales growth and gross profit margins,” Said Prapan.
“Gross profit margins jumped to 24.21 percent, compared to 21.43 percent a year ago due to effective cost management, however, Q2 net profit of mai-listed firms dropped slightly compared with a year ago when the earnings was boosted by extraordinary gains.,” added Prapan
Two mai industry groups, which were Agro & Food Industry and Property & Construction, reported both growing sales and profits compared with the same period of last year.
The top five profit-making mai-listed companies in the second quarter were Energy Absolute pcl (EA) making THB 741 million net profit, J.S.P. Property pcl (JSP) reporting THB 321 million net earnings, Thai Solar Energy pcl (TSE)making THB 141 million, Brooker Group pcl (BROOK) posting THB 82 million, and Forth Smart Service pcl (FSMART) reporting THB 67 million net profits.
For the first six months, mai-listed firms reported a 3.20 percent increase y-o-y in sales to THB 61.38 billion (approx. USD 1.75 billion), while gross profit margins increased to 24.93 percent, compared to 21.21 percent a year earlier and net earnings jumped 26.10 percent to THB 3.86 billion, resulting from their outstanding performance in Q1 with 43.52 percent net profit growth year-on-year. Resources, Financials and Industrial were top three profit makers.
As at August 19, 2015, the mai index closed at 579.83 points, down 17.17 percent from the start of this year, with a total market capitalization of THB 351.6 billion (USD 10.01 billion) and daily average trading volume of THB 3.7 billion. The price-to-earnings ratio (P/E ratio) was 57.79 times.