Thai bourse’s listed firms report THB 220 bln in net profits in Q1/2014 - First quarter’s total sales of listed companies up 5.85 pct y-o-y - Combined net profit fell 9.92 pct y-o-y because of weaker baht and rising SG&A and interest expenses - PTT, SCB, PTTEP, KBANK and ADVANC are top 5 best profit-making firms BANGKOK, May 20, 2014 – Companies listed on the Stock Exchange of Thailand (SET) reported total sales of THB 2.83 trln (approx. USD 87 bln) during the first quarter of 2014, up 5.85 percent from a year ago, despite unfavorable economic and political circumstances. Their combined net profit fell 9.92 percent year-on-year as a result of the baht depreciation as well as rising SG&A and interest burden. SET Senior Vice President Paveena Sriphothong said that 471 SET-listed companies or 92.17 percent of the total 511 listed firms (excluding those in the non-compliance and non-performing groups) have reported their earnings, ending March 31, 2014. Among these, 384 companies or 81.53 percent of them reported a net profit. Aggregate sales from companies that have filed earnings reports stood at THB 2.83 trln (approx. USD 87 bln) in Q1/2014, a 5.85 percent increase from the same period last year. However, their net profits totaled THB 220 bln (approx. USD 6.77 bln), which was 9.92 percent lower than a year earlier. At the same time, their combined gross profit margin was 18.29 percent, a slight decline from 18.37 percent recorded during the same period of 2013, while their net profit margin also dropped to 7.79 percent from 9.15 percent.Their debt/equity ratio (excluding those from the Financials industry) was 1.31 times. “SET-listed companies could still maintain their sales and abilities to record good gross profits, compared with the same period last year when the country’s economic and political environments remained more favorable. It reflected the listed firms’ abilities to boost sales while controlling their costs under various limitations. Moreover, the gradual recovery in the global economy and various industries such as banking, property and insurance, had helped generate constant flow of revenue. However, the decreased margin from exchange rate topped off with increased selling, general and administrative expenses plus interest rate burden had pressured the net profits of large and medium-sized SET100 listed companies down 18.49 percent. On the other hand, the net profits of non-SET100 listed companies rose 54.73percent, mainly due to the increase in net assets from the TRUEIF ‘s performance worth THB 15.77 bln If excluding this amount, the non-SET100 listed companies’ net profits will have a slight decline of 0.35 percent,” said Paveena. “Moreover, Thailand’s economic slowdown and prolonged political turmoil have continued to pressure down sales of listed firms. Hard-hit businesses included those from retail, media and publishing, airlines, and securities industries. Meanwhile, businesses from electronics and food sectors looked set to enjoy a continued growth in their sales due to favorable prices and volume from both within and outside the country as well as the weak baht,” Paveena added. The top 5 firms with the largest profits were PTT plc (PTT), Siam Commercial Bank plc (SCB), PTT Exploration and Production plc (PTTEP), Kasikornbank plc (KBANK) and Advanced Info Service plc (ADVANC). The top 3 industry groups with highest profits were Financials, Resources and Technology. The top 3 sectors of the total 28 sectors with the largest profits were Energy & Utilities, Banking and Information & Communications Technology, with a combined net profit of THB 145.30 bln (approx. USD 4.47 bln) or 65.96 percent of total net profit. Their combined sales accounted for 53.70 percent of total sales. SET Group “Matching Your Right Financial Opportunities”
Posted on: Tue, 20 May 2014 11:11:52 +0000
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