Thai listed firms post 6% sales growth in first 9 months of 2014
Companies listed on The Stock Exchange of Thailand (SET) reported a net profit of THB 614.41 billion (approx. USD 18.6 billion) in January-September, up slightly from a year earlier, while sales rose 6.1 percent to THB 8.58 trillion in the January-September period.
Aggregate earnings were compiled from 494 listed firms, or 94.1 percent of the total 525 companies (excluding non-compliance and non-performing groups), in the third quarter of this year, ending September 30. There were 401 companies making net profits in the third quarter, representing 81.17 percent of the total listed companies disclosing their financial statements. Net profits of the 401 listed firms were at THB 194.85 billion, down 5.17 percent from the same period last year, while sales rose 3.29 percent to THB 2.90 trillion. The gross profit margins were 18.29 percent and net profit margins were 6.73 percent, almost equal to last year’s.
“Overall sales in the third quarter continued to grow compared to the same period last year and boosted the nine-month sales growth, supported by rising sales in Energy and Utilities, Property Development, Banking, as well as some exports business such as electronic parts, foods and construction materials. However, oil inventory loss affected Energy sector earnings and Thai listed firms’ lower net profit as a whole in the third quarter. Net profits in nine months, might be seen rising by 11.22 percent if it excluded special transaction earning occurred in 2013. Debt to equity ratio (excluding financial industry) was at 1.23 times.” said SET Executive Vice President Chanitr Charnchainarong.
The top five net profit-making firms, in descending order, were PTT plc (PTT), PTT Exploration and Production plc (PTTEP), Siam Commercial Bank plc (SCB), Kasikornbank plc (KBANK) and Bangkok Bank plc (BBL).
Financials, Resources, and Property and Construction were the top three best performers in terms of industry. By sector, the top three best performers, in descending sequence, were: Energy and Utilities, Banking, and Information and Communication Technology, with a combined net profit of THB 391 billion, or 63.69 percent of the total earnings in the first nine months while the combined sales were contributing 53.24 percent of the total.
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