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- Nine-month total sales fell 1.3 pct to THB 8.62 trillion
- Net profits down 15.4 pct y-o-y to THB 646 billion during Jan-Sep due to the global and the Thai economic slowdown.
- Finance & Securities, Food & Beverage and Consumer Products among best-performing sectors
Securities listed on The Stock Exchange of Thailand (SET) posted total sales of THB 8.62 trillion (approx. USD 288 billion) in the first nine months of 2019, down 1.3 percent from a year earlier. Their net profit also fell by 15.4 percent year-on-year to THB 646 billion, dampened by the global and the Thai economic slowdown.
SET Senior Executive Vice President Manpong Senanarong said that 693 listed securities, accounting for 97.1 percent of the total 714 securities (excluding property funds, infrastructure funds, non-compliance or NC, and non-performing groups or NPG), submitted their nine-month financial reports, ended September 30, 2019. Among these securities, 527 securities, representing 76 percent, recorded net profits.
For Jan-Sep period, listed securities’ aggregate sales dropped 1.3 percent over the same period last year to THB 8.62 trillion, with core operating profits falling 24.6 percent to THB 660.73 billion and net profits decreasing 15.4 percent to 645.7 billion.
Listed securities’ combined sales in Q3/2019 was down 6.1 percent to THB 2.85 trillion, while core operating profits declined 28.9 percent to THB 203.7 billion and net profits dropped 18.3 percent to THB 201.4 billion over the same period.
“The headwinds blow consisting of trade dispute, the floundering global economy which affected foreign exchange and petroleum product prices, and the sluggish Thai economy took toll on Thai listed securities, deepening decline in sales. On top of that the intensified competition also had effect on their core operating profits and net profits. Thai listed securities' core operating and net profit margins lowered to 7.7 percent and 7 percent from 10 percent and 8.2 percent, respectively, year-on-year,” Manpong added.
At end-Q3/2019, listed securities' financial position was declining with debt-to-equity ratio (excluding Financials industry group) increased to 1.37 times from 1.28 over the same period last year.
The sectors that reported better performance were Finance & Securities, driven by personal loan growth; Food & Beverage, benefiting from fresh food and beverage business groups including expansion into CLMV markets; as well as Consumer Products, reporting marginally higher sales and net profits from the second quarter.
Companies listed on Market for Alternative Investment (mai) reported better performances, with the nine-month total sales of THB 139.6 billion, up 2.4 percent from the same period last year, while their operating profits down 19.2 percent to THB 4.7 billion. Meanwhile, including the extraordinary items of companies in Resources industry Group, companies listed on mai’s combined net profits increased 69 percent year-on-year to THB 8.7 billion.
