Thailand’s Alternative Market Posts THB12.88 Billion In Listed Firms’ Sales

Thailand’s Market for Alternative Investment (mai) announced a net profit of THB 649 million (approx. USD 17.08 million) for 37 listed companies, with 8 recording over 100% profit growth. H1/2006 overall results included THB 12,878 million (approx. USD 338.89 million) in sales, up 11% y-o-y.

“Thirty-two companies posted net profits, while five posted losses. For Q2/2006, listed companies on mai had THB 6,759 million sales, an 11% increase from 6,116 million in Q2/2005, and THB 338 million net profits,” mai President Mr. Chanitr Charnchainarong announced.

“The company with the highest net profit growth in H1/2006 is International Research Corporation PCL (IRCP), which posted THB 64 million profit, a 598% increase y-o-y. In terms of sales, the company recorded THB 778 million, up 151% y-o-y, due to the completion of projects initiated last year, and realized income from new customers in the energy industry,” the mai President added.

The second highest came from TRC Construction PCL (TRC), which posted THB 25 million net profit, up 565% from only THB 4 million last year. The company recorded THB 99 million in sales, an annual increase of 99%, as TRC started to realize revenue from construction and engineering systems installation projects. Two new projects— NGV gas pipeline, and gas station construction, made a significant contribution.

The Brooker Group PCL (BROOK) recorded the third highest net profit growth (374%), turning last year’s loss of THB 13 million to a THB 35 million profit in H1/2006. BROOK recorded a THB 53 million increase in sales and services revenue, as it partially completed its service for a debt-restructuring project.

Sixteen of the 32 profitable companies further increased their profit, averaging 184% growth. Aside from the three top companies mentioned previously, five others posted more than 100% growth in H1/2006 - CM Organizer PCL (CMO) 370%, Porn Prom Metal PCL (PPM) 318%, Business Online PCL (BOL) 231%, Thai Nakarin Hospital PCL (TNH) 170%, and Interlink Communication PCL (ILINK) 103%.

“Nevertheless we must acknowledge that although listed companies on mai posted an increase in total sales, profits of companies in the production section deteriorated, due to higher costs of raw materials and the knock-on effect of higher oil prices on copper, lead, plastic and plastic bead,” said Mr. Chanitr.

Currently mai has about THB 15,400 million in market capitalization.