Chairwoman of the Capital Market Opportunity Center (CMOC) and the MAI, Ms. Sopawadee Lertmanaschai, said that as of March 31, 2004, 11 out of the 12 companies listed on the MAI have submitted their Q1/2004 earnings reports. The profit from all 11 firms combined reached THB 94.53 mln., a 30.50% year-on-year increase.
"Listed firms on the MAI are considered to have high business growth potential. Some have expanded with a leapfrogging pace as they have good fundamentals. Top firm with highest quarterly net profit is Master Ad (MACO), which posted THB 30.02 million profit, a rise of THB 19.53 million over last year's THB 10.19 million or a 186.28% increase. MACO earned higher revenues from outdoor advertisement media such as Trivision, Billboard, and BTS City Vision, as well as its ability to cut sales and service costs.
Thai Mitsuwa (TMW), the 2nd top profit-making firm, posted its Q4/FY2003 net profit of THB 26.24 million (its accounting period is from 1 April ? 31 March). This is an increase over the same period last year (THB 8.63 million) of THB 17.61 million, or a 204.01% rise. This tremendous growth was in line with the country's economic expansion and due to its economy of non-increasing fixed expenses. TMW posted its annual net profit, as of March 31, 2004, of THB 100.14 million, or a 37.31% increase.
In third place is Matching Studio (MATCH), which recorded a net profit of THB 17.11 million, down slightly from the same period last year (THB 18.70 million) by THB 1.59 million, or 8.52%. The decline was mainly due to higher sales and operating expenses as the company has employed more personnel to accommodate new business units, some of which have not yet generated revenue in this accounting period.
Pack Delta (PD), in fourth place, posted a THB 14.20 million in net profit, decreasing slightly by THB 1.22 million or 7.91% percent from the same period last year (THB 15.42 million).
In fifth place, RK Media (RK) recorded a net profit of THB 11.28 million in Q1/2004, increasing by THB 4.61 million from the same period last year (THB 6.67 million. This is a considerable 69% increase, and was due to higher service fees for both its radio and television services, more radio and T.V productions, and its VCD distribution licenses of foreign series in Thailand.
Also, eight out of the 12 MAI-listed firms have announced their dividends for the year 2003. The 3 MAI-listed firms with the highest dividend yields, relative to their 31 May 2004 share prices, were, RK Media (RK), Pico (Thailand) (PICO) and International Research Corporation (IRCP). RK paid a 2003 dividend of THB 0.25 per share, equivalent to a 5.21 per cent yield. PICO recorded its 2004 interim dividend from retained earnings of THB 0.18 or a 4.92 per cent yield, while IRCP paid a 2003 dividend of THB 0.55 or a 4.74 per cent dividend yield.
"Although listed firms on the MAI are small, these companies demonstrate high business growth potential and offer high rates of returns to investors. This is evident when we consider the 2003 dividend yields from RK, PICO and IRCP, which are all higher than the average yields found on the main bourse", concluded Ms. Sopawadee.
Click here for a summary of operational results of firms listed on MAI Q1/2004 first quarter vs. Q1/2003.