- Q1 aggregate net profit down 58.58 percent y-o-y to THB 717 million
- Combined sales down 1.56 percent to THB 42.13 billion
- Resources industry group recorded sales and net profit growth.
Companies listed on Market for Alternative Investment (mai) reported combined sales of THB 42.13 billion (approx. USD 1.36 billion) for the first three months of 2020, down 1.56 percent; and total net profit of THB 717 million, a 58.58 percent drop from a year earlier. Resources industry group recorded growth in both sales and net profit.
mai President Prapan Charoenprawatt said that 153 mai-listed companies, representing 91 percent of the total 169 firms (excluding those in the non-compliance or NC group, those with different account period closing, those not submitting financial statement in time, and those requesting to postpone financial statement submission due to the COVID-19 pandemic) submitted the quarterly operating results ended March 31, 2020. Their aggregate sales were THB 42.13 billion, down 1.56 percent from the previous year. The total costs recorded at THB 33.35 billion, a 0.84 percent drop. The gross profit decreased to 20.85 percent from 21.42 percent, and the operating profit declined 27.51 percent to THB 1.46 billion, resulting in the total net profit at THB 717 million or a 58.58 percent drop. However, there were 102 firms, representing 67 percent of total listed companies already disclosed their financial statements, that reported net profits.
"The first-quarter performance of mai-listed companies was tarnished, weighed by the economic slowdown from the COVID-19 pandemic spread, causing lower sales, and higher selling and administrative expenses, resulting in lower profitability capability. However, the Resources industry group showed the increase in both sales and net profit. As for the financial position in Q1, mai-listed firms' total assets rose to THB 272.43 billion. The financial structure remains sound, while debt-to-equity ratio slightly increased to 1.10 times from 1.03 times at end-2019," added Prapan.
As of May 21, 2020, there were 169 mai-listed companies.The mai Index closed at 275.03 points, with a total market capitalization of THB 188.1 billion and average daily trading value amounting to THB 590.09 million.
