Bangkok--6 Mar--SET
The fifty-two listed companies on the Market for Alternative Investment (mai) reported combined sales of THB52.56 billion (approx USD1.45 billion) for the year ending December 31, 2008, up 16% year-on-year (y-o-y), with net profits of THB2.60 billion (approx. USD0.07 billion), or a 19% increase. Three newcomers, AGE, AIM, and TPOLY, were among those posting higher sales than the average.
All mai-listed companies have submitted their financial statements for the period ending December 31, 2008. Forty firms, or three-fourths of those listed, made net profits, disclosed mai President Mr. Chanitr Charnchainarong.
Ten firms posted over THB100 million of net profits, an increase from last year’s seven companies. Three newly-listed firms recording higher sales than average were Asia Green Energy PCL (AGE) at THB2.36 billion, or a rise of 147% y-o-y, Absolute Impact PCL (AIM) at THB220 million, up 62% y-o-y, and Thai Polycons PCL (TPOLY) at THB1.74 billion, a 33% increase over a year ago.
“From the operating performance for 2008, it appears that 77% of mai-listed firms have maintained their strong financial status. Overall operating performance shows high growth in sales and profits, while gross margins increased from 21% to 23% y-o-y, even with the economic recession,” said Mr. Chanitr.
Concerning Q4/2008 operating performance, mai-listed firms’ total sales reached THB13.83 billion (approx. USD0.38 billion), an increase of 13% y-o-y, with net profits of THB86 million (approx. USD 2.37 million). Although combined net profits plunged 86% y-o-y, it was due to the dramatic losses of only a few companies. However, on average, gross margins of mai-listed firms rose from 22% to 24%.
Currently, mai has a total market capitalization of THB22.87 billion (approx. USD0.63 billion). The mai Index closed at 152.10 (March 5, 2009). For more information on listed firms’ performance, please visit www.mai.or.th. Those interested in the alternative market are invited to apply for free email updates on mai by contacting [email protected] or calling the SET Call Center on 0 2229 2222.
For more information, please contact Public Relations Unit, the Corporate Communications Dept.:Ladawan Kantawong Tel: 0-2229-2036 / Kanokwan Khemmalai Tel: 0-2229-2048 / Panitee Chatpolarak Tel: 0-2229-2792