Bangkok--20 Nov--SET
Forty-nine listed companies on Thailand’s Market for Alternative Investment (mai) announced a consolidated 9M/2008 net profit of THB 2,262 million (approx. USD 64.62 million), a 56% increase year-on-year (y-o-y). These firms reported combined earnings of THB 34.53 billion (about USD 986.63 million), which is an increase of 12% over the same period in 2007, mai President Chanitr Charnchainarong said.
The top-five companies with the highest profit growth were, in descending order of profitability, Unique Mining Services PLC (UMS), which posted a net profit of THB 393 million (about USD 13.1 million); Goldfine Manufacturers PLC (GFM) with THB 260 million (about USD 8.67 million); Unimit Engineering PLC (UEC) with THB 203 million (about USD 6.77 million); L.V. Technology PLC (LVT) with THB 178 million (about USD 5.93 million) and Demco PLC (DEMCO) with THB 173 million (about USD 5.77 million) in profit.
For Q3/2008 only, mai-listed firms posted a consolidated net profit of THB 807 million (approx. USD 23.06 million), or a 35% rise y-o-y, and a total net profit of THB 1.19 billion (approx. USD 33.96 million), an increase of 13% y-o-y.
"In the current global economic crisis, mai-listed companies’ share prices are undervalued. The earnings growth of mai-listed firms for Q3/2008 demonstrates their flexibility in business operations and cost control. However, businesses that have been affected by the negative economic and political milieu include companies in media and services, finance and information technology and communications," Mr. Chanitr added.
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