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mai-listed Companies Report Q3/2021 Net Profit Of THB 2.8 Billion

Date 25/11/2021

  • 9-month net profit up 463.5 pct Y-o-Y to THB 6.43 billion
  • 9-month total sales up 12.0 pct Y-o-Y to THB 121.97 billion
  • Consumer Products, Financials and Resources saw the highest net profit growth among peers

Companies listed on Market for Alternative Investment (mai) posted total sales of THB 42.48 billion (approx. USD 1.28 billion) in the third quarter of 2021, down 1.6 percent from the previous quarter due to the ongoing COVID-19 situation. When  compared to the same quarter of last year, total sales rose 15 percent, operating profit surged 43 percent to THB 2.76 billion, and net profit jumped 115.9 percent to THB 2.8 billion.

mai President Prapan Charoenprawatt said 173 out of 181 mai-listed companies (excluding those in the non-compliance or NC group, and those with different accounting periods as of November 22, 2021), accounting for 96 percent, submitted their performance ending September 30, 2021. A total of 118 companies, making up 68 percent of the total listed companies submitted the report, recorded net profit.

On a quarter-on-quarter basis, mai-listed companies recorded total sales of THB 42.48 billion in the July-September period, down 1.6 percent, while costs totaled THB 32.9 billion, or a 1.5 percent decrease, resulting in a slight difference in the gross profit margin to 22.5 percent from 22.6 percent. Operating profit was THB 2.76 billion or a 2.5 percent decline, consequently lowering operating margin to 6.5 percent from 6.6 percent, while net profit chalked up 69.3 percent, with net profit margin rose to 6.4 percent from 3.8 percent. The sharp rise in net profit was the consequence of extra items of certain companies.

However, when comparing the performance during the nine-month period to the same period last year, total sales amounted to THB 121.97 billion, operating profit was THB 7.7 billion, and  net profit recorded at THB 6.43 billion, representing the growth of 12.0 percent, 50.6 percent and 463.5 percent, respectively.

"During the third quarter of 2021, the lingering COVID-19 pandemic and the stringent  measures to curb the spread still dealt a blow on economic activities. However, there were signs of economic recovery in late third quarter from the ease of COVID-19 measures while many listed companies have been more resilient and initiative to move forward, positively pushing the total sales and net profit for the nine-month period to increase compared to the same period last year. The top three Industry groups with the best net profit and sales growth were Consumer Products (medical equipment businesses), Financials, and Resources," added Prapan.

mai-listed companies had a combined asset of THB 273.43 billion, up 7.4 percent from end-2020, and the overall capital structure remained strong with debt to equity (D/E) ratio of 1.08  times, a decrease from 1.11 times at end-2020.

As of November 23, 2021, there were181 mai-listed companies. mai Index closed at 561.94 points, with a total market capitalization of THB 447.37 billion and average daily trading value of THB 5.35 billion.