- First-half net profits of listed companies down 13.6 pct y-o-y due to rising costs
- Sales up 13.4 pct supported by improving economy
- PTT, PTTEP, SCB, KBANK and ADVANC are top five best profit-making firms
Companies listed on The Stock Exchange of Thailand (SET) report a net profit of THB 344 billion (approx. USD 10.76 billion) in January-June, down 13.58 percent from a year earlier, weighed by rising selling costs, with banking, food and beverage, commerce, property development, and health care services being the top five best performers.
Aggregate earnings were compiled from 447 listed firms, or 93.71 percent of the total 477 companies, in the first six months of this year, ending June 30.
“The decreases of net earnings of SET-listed companies in the first half-year were mainly due to performance drops in the energy, steel, and agribusiness sectors, including net losses of some companies. This was due mainly to a sharp decrease of global commodities prices in the second quarter, which triggered stock loss and inventory write-down to net realizable value. This was a non-recurring item. Meanwhile, insurance firms faced a great number of claims following last year’s flood crisis,” said SET President Charamporn Jotikasthira.
“Excluding companies hit by a slump of commodities prices, however, year-on-year net profits of overall listed companies rose 32.01 percent in the second quarter and were up 8.80 percent in the first half of this year,” Charamporn added.
Thanks to domestic economic growth, total sales of the 447 listed firms rose 13.42 percent to THB 5.06 trillion (USD 158 billion) in the first six months. The top five firms, in descending order of net profits makers, were PTT plc (PTT), PTT Exploration and Production plc (PTTEP), Siam Commercial Bank plc (SCB), Kasikornbank plc (KBANK) and Advanced Info Service plc (ADVANC).
By quarter, net profits of the 447 listed firms were at THB 130 billion in April-June, down 24 percent from the same period last year.
By sector, the top five best performers in the first six months, in descending sequence, are: banking, food and beverage, commerce, property development, and health care services.