Thai listed firms report Q2 net profit growth of 21 pct - Q2 net profits of listed companies up 21 pct y-o-y to THB 200 bln - Sales up 8 pct, firms maintain gross profit margins at 19 pct - PTT, PTTEP, SCB, KBANK, BBL are top five best profit-making firms BANGKOK, August 19, 2014 - Companies listed on The Stock Exchange of Thailand (SET) reported a net profit of THB 203.71 billion (approx. USD 6.37 billion) in April-June, up 20.62 percent from a year earlier, with energy & utilities, banking, and property development sectors being the top three best performers. Aggregate earnings were compiled from 482 listed firms, or 92.87 percent of the total 519 companies (excluding those in the non-compliance and non-performing groups), in their financial statements ending June 30. Of the reporting firms, 392 firms, or 81.32 percent of the total, made net profits. SET Senior Vice President Paveena Sriphotong said, The second-quarter earnings growth was driven by the global economic recovery, particularly the energy and utilities sector which was underpinned by higher world oil prices, increasing sales and foreign exchange gains. Companies relating to foreign investment and exports such as foods, electronic parts and construction materials reported growing sales compared to the past quarter, in line with rising demand of the leading industrialized countries. However, the sluggish domestic economy weighed down the income growth of businesses relating to domestic consumption. All in all, Thai companies are able to control, maintain and manage costs and expenses, keeping their gross profit margins at 18.82 percent. Profit margins in the second quarter were at 7.15 percent, up from 6.35 percent a year ago.” “Although the political situation was improving during the second half of Q2, listed companies’ sales remained stable, while net profits, excluding extra items, decreased 6 percent from the past quarter. Costs were under control, but expenses of sales and administrations were higher. While transportation, tourism and information technology were affected continuously, other businesses performed better compared to the first quarter,” Paveena added. Total sales of the 482 firms in the second quarter were up 7.69 percent to THB 2.85 trillion year-on-year. In the first six month, total sales rose 6 percent to THB 5.64 trillion (USD 176 billion), while net earnings were up 2.88 percent at THB 426.48 billion from a year earlier. The top five firms, in descending order of net profit-making in the first six months, were PTT pcl (PTT), PTT Exploration and Production plc (PTTEP), Siam Commercial Bank pcl (SCB), Kasikornbank plc (KBANK) and Bangkok Bank plc (BBL). Energy & utilities, banking, and property development sectors were the top three best performers with sales and profits increasing year-on-year both in the second quarter and the first half. They had a combined net profit of THB 244 billion in the first six months, or 57.32 percent of the total earnings. SET Group: “Matching Your Right Financial Opportunities”
Posted on: Wed, 20 Aug 2014 00:48:21 +0000
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