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"The listed companies on the SET and MAI collectively posted THB 310,105 million in profits or a 47% increase from THB 211,577 million in 2002. The 406 out of 410 SET-listed companies which have already submitted their financial statements have shown a total of THB 209,751 million in profits, or a 47% increase when compared to last year's THB 211,342 million. A total of 338 companies (83%) gained profits while another 68 companies suffered losses (17%)."
"For the MAI-listed, nine out of ten companies have submitted their financial statements showing THB 353 million in profits, or a 50% increase compared to last year's THB 236 million," Mr. Kittiratt said.
Considering the listed companies' operational performance under the new 8 industry groups effective since 1 January 2004, (companies in Others Sector and REHABCO Sector not included), the 364 listed companies showed THB 285,936 million in profits, or 92% of all profits generated by all listed companies. The top five industry groups with highest net profits are:
- Resources Group which comprises 12 companies in the Energy Sector and one company in the Mining Sector. This group collectively posted THB 64,893 million, or a 38% increase over last year's. This can be attributed to a 24% sales growth in the Energy Sector and a 14% decrease in interest expenses.
- Property Development & Construction Group which comprises 56 listed companies in the Building and Furnishing Materials Sector, and the Property Development Sector. Their net profits were recorded at THB 63,791 million, or a 53% increase over last year's. Contributing factors include a 27% growth in the gross profit margin and a 21% increase in sales, plus a 24% reduction of interest expenses.
- Financials Group which comprises 63 listed companies in the Banking Sector, Finance and Securities Sector, and Insurance Sector. They have posted THB 54,075 million in total which is a 165% rise over last year's.
- Technology Group which comprises 38 listed companies in the Communication Sector, Electronic Components Sector, and Electrical Products and Computer Sector. These companies posted THB 40,081 million worth of net profits accounting for a 125% rise over last year. The contributing factors include an 11% sales growth and a 25% profit margin growth, plus a 5% decrease in interest expenses.
- Services Group which comprises 74 listed companies posting a total of THB 33,840 million in net profits, a 25% decrease from last year as the Group gained less profits from debt restructuring. Their gain dropped from THB 15,598 million in 2002 to only THB 148 million in 2003. Nevertheless, their total sales had a 10% increase and the gross profit margin rate was maintained at about 28%.
Mr. Kittiratt also talked about the performance of listed companies in the Financials Group. "Specifically for the Banking Sector, which comprises 13 commercial banks and the Industrial Finance Corporation of Thailand, they collectively posted THB 34,882 million, or a 223% rise compared to 2002's THB 10,815 million. This can be attributed to a 30% rise in non-interest income positively affected by improved capital market conditions, a 13% rise in interest income and a net dividend before doubtful debt due to a 5% growth in loans and declined savings interest. Moreover, provisions for bad and doubtful debts have also decreased by 35%. These companies also incurred a THB 18,168 million loss from debt restructuring.
For 19 listed companies in the Finance & Securities Sector, their net profits rose 163% over last year's THB 5,218 million to THB 13,720 million. The main contributing factor was their 110% growth in net income from their securities business, after deducting the borrowing as well as fee and service expenses. This was a substantial increase in their brokerage income and underwriting fee income while other income also rose by 65%.
Regarding the finance companies, they have enjoyed a 31% growth in interest income and a net dividend due to a notable increase in hire-purchase income as car sales soared. Their lending and interest income increased by 31% coupled with a 15% decrease in bad debts."
As at 31 December 2004, the listed companies in the Financials Group have a total of THB 615,137 million worth of Non-Performing Loans (NPLs). Their NPLs as a percentage of total lending and accrued interest income were recorded at 12.88%, which declined from last year's 16.40%.
38 out of 41 companies in the REHABCO Sector have already submitted their financial statements and posted a total of THB 23,476 million in net profits, accounting for a 26% growth. Among them, 19 companies posted net profits while 19 companies posted losses. Their outstanding debts as of 31 December 2004 were recorded at THB 253,735 million, declining by THB 26,865 million from last year's THB 280,600 million.
