Bangkok--24 Oct--Kim Eng Securities
Kim Eng Securities (Thailand) Public Company Limited’s net profit for the three-month period ended September 30, 2008 was Baht 88.61 million, a decrease of 55.89 % or Baht 112.28 million from net profit of Baht 200.88 million for the same period last year. The main variances comparing to last year were :
1. Brokerage fees from Securities Business decreased by 52.94 % or Baht 294.02 million to Baht 261.41 million. This was due to a decrease in trading volume of the whole market. Moreover a decrease of the retail portion of the whole market also resulted in a decrease of our market share from 8.48 % to 7.32 %. The company’s average daily trading volume decreased from Baht 3,772 million to Baht 1,800 million.
2. Brokerage fees from Derivatives Business increased by 49.71 % or Baht 15.41 million to Baht 46.42 million. This was due to an increase in trading volume of the whole market. The company’s average daily trading volume increased from contracts 1,508 to 2,266 contracts.
3. Fee and services income increased by Baht 16.03 million or 1,280.75 % to Baht 17.29 million due to an increase in advisory fee.
4. Interest from margin loans increased by Baht 5.25 million or 32.82 % to Baht 21.26 million due to an increase in demand for loans for securities trading.
5. Operating expenses decreased by 26.38 % or Baht 97 million to Baht 270.73 million. Lower operating expenses were mainly due to a decrease in fee expenses and personnel expenses of Baht 5.31 million and 87.03 million respectively as a result of a decrease in trading fees and marketing incentive payments which are based on trading volume.
6. Corporate income tax decreased by 57.48 % or Baht 40.60 million to Baht 30.03 million due to a decrease in net profit.
For more informaiton please contact:
Corporate Secretary
Tel. 02-658-5166