• First-half net profits of listed companies hit record high, up 35% y-o-y
• Sales up 22% as improving economy boosts demand
• PTT, PTTEP, SCB, SCC and BBL are top five best profit-making firms
Companies listed on The Stock Exchange of Thailand (SET) report a net profit of THB 386 billion (approx. USD 12.9 billion) in January-June, up 34.61 percent from a year earlier, as the growing economy pushed up products and service demand, with resources, financials and property & construction being the top three best performers.
The aggregate earnings were compiled from 472 listed firms, or 92.73 percent of the total 509 companies and 34 property funds listed on the SET, in the first six months of this year ending June 30, 2011. Of the firms, 402 companies, or 85.17 percent of the total, made net profits.
“Aggregate first-half performance of listed firms reflects the uptrend of their sales and net profits. The earnings also reach a new record high, continuing from 2010 and the first quarter of this year,” said SET President Charamporn Jotikasthira.
“These earnings were driven by economic improvement, capability of firms in cost management, and their ability to make profit in a higher cost environment. Although there is some impact from the European and U.S. economic slowdowns, big-cap firms in the SET50 Index, especially in the energy, petrochemical and banking sectors have had attractive growth continuously,” Charamporn added.
Total sales of the 472 companies rose 22.37 percent to THB 4.49 trillion (USD 150 billion). Top five firms, in descending order of net profit-making, were PTT plc (PTT), PTT Exploration and Production plc (PTTEP), Siam Commercial Bank plc (SCB), Siam Cement plc (SCC) and Bangkok Bank plc (BBL).
By quarter, net profits of the listed firms were at THB 172 billion in April-June, up 35.46 percent from the same period last year.
By sector, the top five best performers in the first six months, in descending sequence, are: energy & utilities, banking, petrochemicals & chemicals, information & communication technology and construction materials.
Top 100 big-cap companies in the SET100 Index showed a combined net profit of THB 331 billion, up 35.93 percent from a year earlier. That represents 85.28 percent of the total net profit of all listed firms, while sales increased 24.43 percent to THB 3.79 trillion. They reported a combined loss from foreign exchange of THB 327 million and an 18.32 percent rise in interest expense as well as a 24.4 percent increase in selling costs. That results in an only slight increase in gross margin to 19.22 percent.