Listed firms report a 12.8% combined jump in net profit in first quarter

Companies listed on the Stock Exchange of Thailand reported a combined net profit 12.80 per cent higher than the same period last year. The financials industry and those relating to domestic consumption showed significant increases in sales and net profits.

The five companies with the highest net profit, in descending order, were PTT, PTT Exploration and Production, SCB, PTT Global Chemical and KBank.

By industry group, the top three performers with highest net profit in the first quarter were property and construction, financials, and services, in descending order.

By sector, energy and utilities, banking, and information and communication technology (ICT) were the top three profit makers in terms of absolute amounts, with a combined Bt144.38 billion, accounting for combined 59.76 per cent of total net profits and combined 55.12 per cent of total sales.

Chanitr Charnchainarong, SET executive vice president, said: “Aggregate earnings were compiled from 448 listed firms, or 92.18 per cent of the total 486 companies on SET – excluding those in the non-compliance and non-performing group – from January to March. Of the firms, 381 companies, or 85.04 per cent of the total, made net profits. 

“Total sales in the first quarter this year rose 4.88 per cent from the first quarter in 2012 to Bt2.63 trillion. Total net profits were Bt241.61 billion, up 12.80 per cent from the same period of last year. 

“Gross profit margins rose to 18.26 per cent, from 17.57 per cent recorded during the same quarter of 2012, with net profit margins also increasing to 9.18 per cent from 8.53 per cent. At the same time, debt-to-equity ratio, excluding those in the financials industry, was at 1.29 times.

“The marked improvement in net profits reflected more effective cost management among companies, with those in the financials and consumer-products industries emerging as outstanding performers due to the expansion in business credit and household debt, higher stock-market indices and trading volume, as well as an improvement in the insurance business,” he said.

The impact of the 2011 floods appeared to ease. Listed companies in the manufacturing industry, especially those active in domestic consumption, also enjoyed outstanding sales and profits. They are firms in the commerce, automotive, construction-materials, ICT and healthcare-services sectors.

Moreover, the property development sector reported better earnings and a positive growth outlook, thanks to high-order backlogs. The electronic-components business also showed a promising outlook despite continued pressure from the higher daily minimum wage, the stronger baht and the global economic slowdown, all of which also affected the performances of the agribusiness, food-and-beverage, fashion, and home-and-office-products sector, Chanitr said.