Thai Listed Firms Report THB 410 Bln Net Profits In H1/2013 - First-Half Net Profits Of Listed Companies Up 18 Pct Y-O-Y - Sales Up Slightly, But Cost Management Seen Better - PTT, PTTEP, SCB, KBANK, BBL Are Top Five Best Profit-Making Firms

Companies listed on The Stock Exchange of Thailand (SET) reported a net profit of THB 410 billion (approx. USD 13.22 billion) in January-June, up 17.74 percent from a year earlier, with financials, resources, and property and construction being the top three best performers.
 
Aggregate earnings were compiled from 460 listed firms, or 92.92 percent of the total 495 companies (excluding those in the non-compliance and non-performing groups), in the first six months of this year, ending June 30. Of the reporting firms, 368, or 80 percent of the total, made net profits.
 
"Although sales in the second quarter and the first half grew only slightly when compared with a year earlier, more efficient cost management helped boost gross margins and yielded higher overall profits. In April-June, gross margins of companies in the energy, mining, petrochemical, and steel industries gained from decreasing losses from net realizable value of inventory (NRV) and stock loss. In addition, revenues from non-operational activities, including flood subsidies and profits from selling assets and asset re-evaluation, helped cushion higher losses from foreign exchange,” said SET Executive Vice President Chanitr Charnchainarong.
 
Total sales of the 460 firms rose 3.06 percent to THB 5.27 trillion (USD 170 billion) in the first six months. The 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), Kasikornbank plc (KBANK) and Bangkok Bank plc (BBL).
 
By quarter, net profits of the 460 firms totaled THB 165 billion in April-June, up 26 percent from the same period last year, while sales increased 1.14 percent to THB 2.6 trillion.
 
Financials, resources, and property and construction were the top three best performers in term of industry. By sector, the top three best performers, in descending sequence, were: banking, energy and utilities, and information and communication technology, with a combined net profit of THB 237 billion, or 57.82 percent of the total earnings and combined sales contributing 54.84 percent of the total.