- Mai-listed firms’ H1 sales up 7.7% y-o-y to THB 104.3 bln
- H1 operating profit up 44.8% y-o-y to THB 8.35 bln
- H1 net profit up 80.5% y-o-y to THB 6.10 bln
Companies listed on Market for Alternative Investment (mai) reported robust performance for the first half of 2024, with total sales reaching THB 104.30 billion (approx. USD billion), a 7.7 percent increase year-on-year. Despite increases in the cost of goods sold and selling and administrative expenses, efficient management led to a remarkable 44.8 percent year-on-year jump in the first-half operating profit.
mai President Prapan Charoenprawatt said that 212 mai-listed companies, representing 96 percent of the total 221 companies (excluding those in the non-compliance or NC list and those with different closing dates for accounting periods), submitted their operating results for the January-to-June period of 2024. Of these, 152 companies, or 72 percent of those submitted financial statements, reported net profit.
For the first six months of 2024, mai-listed companies' sales rose by 7.7 percent over the same period a year before while the cost of goods sold increased at a slower pace of 5.6 percent, resulting in a 13.6 percent rise in gross profit to THB 28.08 billion. Selling, general, and administrative expenses totalled THB 19.73 billion, up 4.1 percent over the same period last year. Operating profit and net profit surged by 44.8 percent and 80.5 percent, to the tune of THB 8.35 billion and THB 6.10 billion, respectively. Excluding that of the top five turnaround companies, net profit stood at THB 4.95 billion, a 22.8 percent increase. Moreover, the profitability of mai-listed companies in the first half of 2024 improved, with gross profit margin, operating profit margin, and net profit margin increasing by 1.4 percentage points, 2.0 percentage points, and 2.3 percentage points to 26.9 percent, 8.0 percent, and 5.7 percent, respectively.
“The overall performance of mai-listed companies in the first half of 2024 showed improvement. Companies have effectively managed costs and selling and administrative expenses since the first quarter of this year, enhancing their profitability. Sales growth was seen in almost all industry groups, except for the Resources, which recorded a slight decline. However, nearly all industry groups experienced growth in operating profit and net profit, with only the Consumer goods and Technology reporting a decline in profit,” said Prapan.
Regarding the financial position, mai-listed companies reported total assets of THB 333.75 billion, up 3.0 percent from the end of the previous year, with a debt-to-equity (D/E) ratio reducing to 0.76 times from 0.77 times at the end of 2023.
As of August 23, 2024, there were 221 mai-listed companies. The mai index closed at 329.40 points, with a total market capitalization of THB 337.94 billion and an average daily trading value of THB 1.64 billion.
