Bangkok--4 Sep--SET
As a group, operating performance of firms listed on The Stock Exchange of Thailand (SET) reported Q2/2009 results that were better than those of a quarter ago. With all 379 firms reporting (excluding those in the Financials and Non-Performing Group and Property Funds), total net profit rose by 78.34 %, net profit margin rose to 7.23 %, return on equity (ROE) rose to 3.84%, and return on capital employed (ROCE) rose to 3.80 %.
SET Note Corporate Update for No.03/2009, issued by the Corporate Strategy & Development Division, reported the companies enjoyed total net profit of THB101.35 billion. Of the reporting 379 firms, 283 companies, or 74.67%, recorded net profit from its operation. By using effective cost management, it results in net profit margins that were higher than those of both the previous quarter and of the same quarter a year ago. These margins were 6.61% (Q2/2008), 4.59% (Q1/2009), and 7.23% (Q2/2009).
In terms of operating efficiency, ROE and ROCE rose on a quarter-on-quarter (q-o-q) basis, but declined on a year-on-year basis. Thus, ROE increased to 3.84% from 2.15% in Q1/2009, while ROCE increased to 3.80% from 2.64% in Q1/2009. However, ROE and ROCE, when compared to the same period last year, decreased from 4.59% and 4.91%, respectively.
The overall debt/equity ratio for Q2/2009 was 1.16, almost the same as the 1.14 in Q1/2009 and 1.07 of the same quarter last year, which is not high when compared to a normal economic situation (2004-2008); during those five years, the debt/equity ratio ranged from a high of 1.28 (in Q3/2004) and a low of 1.02 (in Q1/2008). Moreover, the rise of profits from operations and lower interest rates pushed interest coverage ratios from 4.68 (Q1/2009) to 8.15 (Q2/2009), and relatively close to the 9.65 of the same period last year.
For an overview of investments, 334 companies, or 91.76% of total listed firms, increased their investment in fixed assets; this figure was close to the 88.00% of the same period last year. Companies in every industry group increased their fixed assets investment. Fixed assets of all reporting listed firms totaled THB94.03 billion; the industry group with the most fixed assets was the Resources Group at THB52.12 billion, followed by the Property & Construction Group at THB14.03 billion.
Listed companies raised a total of THB2.11 billion in Q2/2009, consisting of fundraising in the primary market of THB198 million of Qualitech PCL (QLT) and Jay Mart PCL (JMART) and fundraising in the secondary market of THB1.91 billion. Of the amount raised in the secondary market, 91% was from SET and the balance from the Market for Alternative Investments. .
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