Listed companies on The Stock Exchange of Thailand (SET) posted profits of THB 371 billion (approx. USD 10.16 billion) for 9M/2006. The Industrials Industry Group enjoyed the highest profit growth of 42%, followed by 11% from the Resources Group and 9% from the Consumer Products Group, with the top five most profitable firms being PTT, SCC, PTTEP, TOP, and BBL. Their combined profits exceeded THB 150 billion.
Ninety-six percent, or 499 of the 521 firms (including eight property funds) listed on SET and mai, have submitted their financial statements for the period ending September 30, 2006. These firms posted a total of THB 371 billion profits, an increase of THB 3.49 billion on the THB 367.51 billion for the same period last year. The three industry groups recording the highest net profits were Resources, Financials, and Property & Construction, SET President Ms. Patareeya Benjapolchai said.
“461 of the 483 companies on SET have submitted their 9M/2006 financial statements and 377 firms are profitable. These posted a total of THB 369.67 billion profit, an increase of 1% or THB 3.29 billion on the THB 366.38 y-o-y, although their costs were affected by rising oil prices and interest rates in 2006. Total sales from these 461 companies were THB 4.0 trillion, up 21% y-o-y,” Ms. Patareeya said.
The three most profitable industry groups were Resources, Financials, and Property & Construction with THB 151.53 billion, THB 76.30 billion, and THB 44.29 billion profit respectively.
The five most profitable companies were, in descending order, PTT PCL (PTT) with THB 79.70 billion profit, Siam Cement PCL (SCC) with THB 24.78 billion, PTT Exploration and Production PCL (PTTEP) with THB 21.93 billion, Thai Oil PCL (TOP) with THB 14.75 billion, and Bangkok Bank PCL (BBL) with THB 13.81 billion.
The top three groups recording highest growth are Industrials, Resources, and Consumer Products:
- Industrials Industry Group: (composed of 69 firms in petrochemicals & chemicals, industrial materials & machinery, packaging, paper & printing materials, and automotive sectors). These firms posted a combined net profit of THB 30.11 billion, a 42% rise y-o-y, due to gains from the exchange rate and higher product turnover and increased raw materials prices.
- Resources Industry Group (composed of 20 firms in energy and utilities and mining sectors): This group’s combined net profit was THB 151.53 billion, a y-o-y increase of 11%. Their sales expanded 29% as they gained from higher oil, natural gas and petrochemical product prices.
- Consumer Products Industry Group (composed of 41 firms in home & office products, fashion, and personal products and pharmaceuticals sectors): This group posted net profits of THB 4.39 billion, up 4% y-o-y, due to higher gross profit margin and exchange rate gains.
Concerning the listed firms on the Market for Alternative Investment (mai), all 38 have submitted their 9M results, with 34, or 89% of them being profitable. These firms posted a total of THB 21.40 billion sales, an increase of 14% y-o-y. Their 9M-net profit was recorded at THB 1.34 billion, up 18% y-o-y.
Operational results from the firms in eight industry groups displayed improved sales records except for the Transportation & Logistics and Professional Services sectors. Four hundred and forty-four firms in all eight industry groups, excluding 17 non-compliance (NC) and non-performing group (NPG) companies, posted a total net profit of THB 362.07 billion, or 98% of the overall net profit of all listed firms.
Seventeen of the 29 companies that may be subject to delisting (posted with an “NC” or “non-compliance” sign), or are in the “non-performing group” (“NPG”), have submitted financial statements
“Six of the 11 NC companies being traded in their normal sectors posted a combined net profit of THB 6.27 billion. They enjoyed quadruple gains from debt restructuring.
Eleven NPG firms submitted financial results, and recorded net profits of THB 1.33 billion, a tremendous surge from THB 3 million y-o-y, as gross profit margin and gains from debt restructuring increased whilst interest expenses declined,” Ms. Patareeya said.
The following is a summary of the status of NC and NPG companies’ debt restructuring from January 1 – November 15, 2006. As of today there’s no additional companies subject to delisting or posted with an NC sign. However, Srithai Food & Beverage PCL (SRI) was moved to NPG.
Currently there are 12 companies that are no longer subject to delisting and are trading in their regular sectors: They are Eastern Printing PCL (EPCO), Everland PCL (EVER), Inter Far East Engineering PCL (IFEC), PAE (Thailand) PCL (PAE), Premier Enterprise PCL (PE), Premier Engineering & Technology PCL (PE&T), Preecha Group PCL (PRECHA), Siam Agro-Industry Pineapple and Others PCL (SAICO), Thai Heat Exchange PCL (THECO), Thai Nam Plastic PCL (TNPC), IRPC PCL (IRPC), and Thai Wire Products PCL (TWP).
