- Total sales up 2.6 pct to THB 185.16 billion
- Net profit jumped 91.9 pct to THB 9.88 billion
- Sales growth increased
Companies listed on Market for Alternative Investment (mai) reported combined sales of THB 185.16 billion (approx. USD 5.88 billion) in 2019, up 2.6 percent from a year earlier. Their core operating profit dropped 7.3 percent to THB 6.76 billion in 2019, while aggregate net profit surged 91.9 percent to THB 9.88 billion, thanks to an extra gain realized by listed firms in Resources and Services industry groups.
mai President Prapan Charoenprawatt said 160 mai-listed companies, representing 95 percent of the total 169 firms (excluding those in the non-compliance group or NC, those using different accounting period, and those not submitting the report in time), submitted the 2019 financial reports, ended December 31, 2019. There were 114 companies, accounting for 71 percent of those released the yearly earnings, showed net profits.
Higher total cost slightly narrowed mai-listed companies' gross profit margin to 21.29 percent, core operating profit declined 7.3 percent to THB 6.76 billion, core operating profit margin fell to 3.65 percent from 4.04 percent, while total net profit almost doubled to THB 9.88 billion as firms listed on Resources industry group recorded a one-time gain from investment disposal in the third quarter.
“In 2019, sales growth still kept rising but the country’s weak purchasing power ignited stiffer competition, while higher personnel expenses to comply with the new labor law bumped up selling, general and administrative expenses and lowered operating profits. However, mai-listed companies’ bottom line in 2019 jumped due to the one-off gain of extra items,” Prapan said.
"mai-listed firms' total assets rose 7.2 percent from end-2018 to THB 275.46 billion and their financial positions remained solid, with debt-to-equity ratio inched lower to 1.03 times at the end of 2019 from 1.06 times in the preceding year.”
As of March 11, 2020, there were a total of 169 mai-listed companies and the mai Index closed at 257.10 points, with a total market capitalization of THB 177.49 billion and average daily trading value of THB 597 million.
