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Listed companies on The Stock Exchange of Thailand (SET) and Market for Alternative Investment (mai) posted H1/2006 profits of THB 273.25 billion (approx. USD7.19 billion), a 7% increase y-o-y. The three industry groups recording the highest net profits were Resources, Financials, and Services.
“Ninety-seven percent, or 499 of the 516 firms listed on SET and mai, have submitted their financial statements for H1/2006”, SET Executive Vice President Mr. Suthichai Chitvanich said.
“Financial results of listed companies on SET alone have improved in terms of both net profits and sales, with 462 of the 479 companies having submitted their financial statements. Of the firms that have submitted financial statements, 377 (82%) were profitable. Total sales from those 462 companies were THB2.7 trillion, up 22% y-o-y,” Mr. Suthichai said.
Companies in the SET50 index earned THB 212.30 billion in net profit, or 78% of the total net profit of listed firms. This represents a 13% increase y-o-y. Total sales leapt 27%, and the gross margin rate stood at 23%.
Companies in the broader SET100 index earned THB 224.75 billion net profit, or 82% of the combined net profit of all listed firms. This amount accounted for a 13% y-o-y increase. Total sales grew 27%. The gross margin rate stood at 22%.
The five most profitable companies were, in descending order, PTT PCL (PTT), Siam Cement PCL (SCC), PTT Exploration and Production PCL (PTTEP), Thai Oil PCL (TOP) and Advanced Info Service PCL (ADVANC).- PTT PCL (PTT) recorded a THB 55.38 billion (approx. USD1.46 billion) profit, a 25% rise. It gained from both higher sales volume and increased prices due to the higher cost of oil. PTT also benefited from the strengthening baht, and from selling its stake in Rayong Refinery PCL (RRC).
- Siam Cement PCL (SCC) posted a THB 17.18 billion profit, an 8% decrease y-o-y. This was due to poor results from SCC’s chemical, cement, and construction businesses, and increased production costs.
- PTT Exploration and Production PCL (PTTEP) yielded a THB 15.12 billion profit, a 55% increase y-o-y due to expanded sales.
- Thai Oil PCL (TOP) had THB 10.97 billion profit, a 52% increase y-o-y, resulting from the rise in the price of refined oil.
- Advanced Info Service PCL (ADVANC) posted THB 9.4 billion profit, decreasing 5% y-o-y, as the company reduced service fees to attract new, and retain existing, customers.
Four hundred thirty seven listed firms in 8 industry groups (excluding non-compliance and non-performing group companies) posted total net profit of THB 259.9 billion, or 95% of the overall net profit of all listed firms.
In order of net profit, the details of eight industry groups are:- Resources Industry Group (composed of the energy & utilities sector plus the mining sector): This group’s combined net profits were THB 101.04 billion, a y-o-y increase of 18%. The group gained from robust domestic consumption of energy, as well as higher prices of petrochemical products.
- Financials Industry Group (the banking, finance & securities, and insurance sectors): This industry group saw net profits of THB 52.03 billion, a 9% decrease from the same period last year, as their gross profit margin narrowed.
- Services Industry Group (the commerce, media & publishing, healthcare services, tourism & leisure, professional services, and transportation & logistics sectors): This group posted a combined net profit of THB 31.37 billion, up 50% y-o-y. This was due to a 10% increase in sales, plus exchange rate gains.
- Property and Construction Industry Group (construction materials and property development sectors, plus property funds): This group saw net profits of THB 30.46 billion, down 8% y-o-y. This was due to higher costs of materials affected by higher oil prices.
- Technology Industry Group (information & communication technology, and electronic components sectors): This group’s combined net profits were THB 18.30 billion, a 6% decrease y-o-y. The decline was due to lesser income and fiercer competition in the industry.
- Industrials Industry Group: (petrochemicals & chemicals, industrial materials & machinery, packaging, paper & printing materials, and automotive sectors). These firms posted a combined net profit of THB16.58 billion, a 1% rise y-o-y. Profits from the petrochemicals & chemicals sector, representing 76% of the group’s profit, rose 81%.
- Agro and Food Industry Group (food & beverage and agribusiness sectors): This group’s net profits of THB 7.02 billion dropped 24% y-o-y, due to higher interest rates.
- Consumer Products Industry Group (home & office products, fashion, and personal products & pharmaceuticals sectors): This group posted net profits of THB 3.1 billion, dropping 4% y-o-y, due to higher interest rates.
Twenty-five of the 33 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
“Fifteen of the 16 NC companies being traded in their normal sectors posted a combined net profit of THB 12.57 billion, increasing 3.3 times y-o-y. They enjoyed quadruple gains from debt restructuring, coupled with a 22% rise in sales, as some of these companies, being in the energy sector, benefited from higher oil prices and the stronger baht.
“Ten out of 17 NPG firms submitted financial results, and recorded net profits of THB 126 million, down 98% y-o-y, as sales and gains from debt restructuring declined,” Mr. Suthichai said.
The following is a summary of the status of NC and NPG companies’ debt restructuring from January 1 - August 16, 2006:- No additional companies have been posted with an NC sign.
- Nine companies were removed from the sector, and are trading in their regular sectors:
- Eastern Printing PCL (EPCO)
- Everland PCL (EVER)
- Inter Far East Engineering PCL (IFEC)
- 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)
- Thai Wire Products PCL (TWP)
Financial Records of Listed Companies for H1/2006 (Ending June 30)
