Bangkok--22 May--SET
Despite the worldwide recession, 35 firms listed on Thailand’s Market for Alternative Investment (mai) made profits in Q1/2009 (with 52 out of 53 companies reporting). Of these, 17 had net profits in Q1/2009 that were higher than those of the same quarter last year. Net profit from all 52 firms totaled THB322 million (approx. USD9.35 million), down 62% year-on-year but a huge 381% rise from the THB67 million (approx. USD2 million) net profits in Q4/2008, revealed Mr. Chanitr Charnchainarong, Group Head, Issuer & Listing and mai President.
Total sales of the 52 companies in Q1/2009 were THB11.07 billion, (approx. USD0.32 billion) a slight decrease of 0.5% year-on-year. Also some firms had a high jump in growth, particularly those providing specialized services to domestic clients or having ongoing contracts that enabled recognition of revenue throughout the period. However, most had a sales slowdown in Q1/2009 due to the recession. However, firms effectively managed their cost of sales, enabling to maintain their Q1/2009 gross profits at 20%, almost the same rate as Q1/2008’s 21%. Moreover, 20 firms had better gross profits than in the same period last year.
Much of the overall 62% drop in total net profits of all 52 mai-listed companies was due to one company. If we exclude Dragon One PCL (which had losses from impairment of investment in subsidiaries), mai listed firms’ net profits would increase to THB507 million, and the y-o-y decrease would lessen to 41%.
“Nine firms showed very strong operating performances, as their Q1/2009 net profits were actually higher than in the same period last year and also higher than in Q4/2008. These companies were: Adamas Incorporation PCL, The Brooker Group PCL, Buildersmart PCL, Evolution Capital PCL, Interlink Communication PCL, L.V. Technology PCL, Pylon PCL, Thai Plaspac PCL, Union Petrochemical PCL,” revealed Mr. Chanitr.
mai’s market capitalization was THB27.26 billion (approx. USD0.80 billion), and the mai Index closed at 178.18 (as of May 20, 2009). Investors interested in mai listed firms’ operating performance, should visit www.mai.or.th, subscribe for the free mai e-newsletter at [email protected], or call S-E-T Call Center at 0 2229 2222.
For more information, please contact S-E-T Call Center 0 2229 2222
Press office, 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