Executive Vice President of The Stock Exchange of Thailand (SET), Mr. Suthichai Chitvanich, announced that 458 listed companies on the SET and the Market for Alternative Investment (mai), or 95% of the total 480 listed companies, had submitted their financial statements to the SET for the first 6- month period of 2005 ending June 30, 2005.
“From the H1/2005 financial statements, the 432 (out of a total of 454) SET-listed firms accumulated a combined THB2.1 trillion in sales, up 23% year-on-year (YoY). Their net profits were recorded at THB248.33 bln., up 22% from the THB203.95 bln. in H1/2004. Of these firms, 85%, or 369 companies, posted profits.
“As for companies listed on the mai, all 26 companies have submitted their financial statements. These companies posted THB8.68 bln. in sales, up 28% YoY, and THB551 mln. in net profits, an 18% rise over the THB467 mln. In H1 2004 Twenty-two mai-listed companies posted profits,” Mr. Suthichai said.
Companies in the SET50 earned a total of THB195.93 bln. in net profits, or 79% of the overall net profits of all listed companies. Their total sales and net profits grew by 27% and 20% respectively. Their gross margin profit stood at 24%.
The companies in the SET100 earned a total of THB207.67 bln. in net profits, or 83% of the overall net profits of all listed companies. Their total sales, gross and net profits grew by 27%, 24%, and 17% respectively.
As the SET EVP went on, “The top five most profitable companies (excl. financial institutions and companies under rehabilitation) were PTT Pcl. (PTT), Siam Cement Pcl. (SCC), PTT Exploration and Production Pcl. (PTTEP), Advanced Info Service Pcl. (ADVANC), and Thai Oil Pcl. (TOP).
- PTT recorded THB44.35 bln. in net profits, or a 68.27% rise from the THB26.36 bln. over the same period last year. The rise was due to higher domestic petroleum consumption, plus an upward trend in petroleum prices. PTT’s higher sales were driven by both price and quantity of its products.
- SCC recorded THB18.72 bln. in net profits, or a 23.98% rise from the THB15.10 bln. during the first 6 months of 2004. The main contributing factor was the burgeoning petrochemical business, which generated 38.71% of SCC’s total sales.
- PTTEP had THB9.74 bln. in net profits, a 46.28% YoY rise from the THB6.66 bln. over the same period last year due to an increase in the average prices and quantities of its oil products sold.
- ADVANC had THB9.54 bln. in net profits, decreasing 5.32% from the THB10.07 bln. over the same period last year. The decline in profits was affected by rapidly increased oil prices that made people more cautious about spending, hence resulting in ADVANC’s service revenue decrease. Furthermore the company also invested more in its network’s equipment and had higher marketing expenses.
- TOP had THB7.22 bln. in net profits, an 8.88% rise from the THB6.63 bln. during the first 6 months of 2004. The improvement was because TOP now has a higher refinery capacity after having temporary halted for maintenance last quarter. Furthermore, the crude oil prices were adjusted upward, leading to TOP’s better gross margin from refinery. Also its subsidiaries showed improved performances.
- Resources Industry Group: (comprised of the energy & utility and the mining sectors). This group’s combined net profits of THB76.09 bln. was a YoY increase of 50%. This rise was due to a 37% jump in sales for the energy & utility sector as a result of greater energy consumption, higher prices of crude oil and its related products. The group’s gross profit margin remained at 17%.
- Financials Industry Group: (consisting of the banking, finance and securities, and insurance sectors). This industry group saw net profits of THB58.25 bln. or 24% of all listed companies’ profits. The group’s profits rose by 7%.
The 13 commercial banks posted a total of THB49.62 bln. in net profits, up 9.1% from H1/2004, due to a 16% increase in interest and dividend incomes whilst their provision for bad and doubtful debts were reduced by 7%.
Fifteen out of the 21 companies in the finance & securities sector (excl. hire-purchase and leasing companies) had submitted their financial statements. They posted THB4.67 bln. net profits or a 11% drop YoY. The securities firms showed profits of THB1.15 bln., decreasing 38% from H1/2004 because of the drop in securities trading.
The assurance and life insurance companies recorded total net profits of THB1.73 bln., accounting for a 4% decrease. This was due to a 16% drop in earnings and profits from investment. Meanwhile, their insurance profits rose by 24%.
- Property & Construction Industry Group: (consisting of the building & furnishing materials and the property development sectors) This group saw net profits of THB34.73 bln., down 9% as a result of higher costs of construction materials leading to a 36% rise in the group’s total costs. Nevertheless their sales rose by 29%.
- Services Industry Group: (consists of the commerce, entertainment & recreation, healthcare services, hotel & travel services, printing & publishing, professional services, and transportation & logistics sectors) This group posted a combined net profit of THB20.83 bln., equivalent to a 10% decrease when compared to H1/2004. The drop was a result of a 20% rise in costs while sales expanded only 11%. Their gross profit margin was thus reduced from 24% to 21%. Most companies were affected by higher oil prices especially those in the transportation & logistics sector.
- Technology Industry Group: (consists of the communication, electronic components, and electrical products & computer sectors). This group’s combined net profits amounted to THB20.00 bln. Their combined profits decreased by 8% YoY due to fiercer competition in the industry and rising oil prices.
- Industrials Industry Group: (consists of petrochemicals & chemicals, machinery & equipment, packaging, paper & printing materials, and automotive sectors). These firms posted a combined net profit of THB16.74 bln., a 26% increase over H1/2004. Every company in the group had declines in their profits except for those in the petrochemicals & chemicals sector as they gained from high market demand.
- Agro & Food Industry Group: (consists of the food & beverage and the agribusiness sectors). This group saw a combined net profit of THB9.18 bln., a 89% surge YoY. Most of the gains in this group were from the agribusiness sector once their consumers’ confidence was restored after the bird flu subsided.
- Consumer Products Industry Group: (consists of household goods, fashion, and personal products & pharmaceuticals sectors) This group posted net profits of THB3.05 bln. Companies in this group posted a 4.5% rise in sales. Their gross profit margin dropped a little from 19.7% to 18.9%.