MAI-listed firms post 10% revenue rise in Q2, but net earnings down
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Listed companies on the Market for Alternative Investment (MAI) posted combined second-quarter revenue that was about 10 per cent higher than in the same period last year, while overall net profits fell due to higher sales-administration expenses and inte
MAI president Charnitr Charnchainarong said yesterday that the second-quarter financial statements of 86 of the 88 companies listed on the MAI showed combined revenue of Bt27.91 billion, up 9.91 per cent over the same three months last year, while combined net profits stood at Bt964 million, down by 46.77 per cent.
Gross earnings dropped to 19.97 per cent of income, from 21.93 per cent in the same period last year.
Moreover, interest costs related to business expansion and additional investments depressed second-quarter net profits to 3.46 per cent of income, from 7.13 per cent in the same period a year ago.
Overall, there were 66 profitable companies, or 77 per cent of MAI-listed firms, Chanitr said.
As for the first six months, MAI-listed firms posted revenue of Bt53.88 billion, representing a year-on-year increase of 4.48 per cent, while net profits amounted to Bt3.19 billion, down by 4.32 per cent.
However, net earnings in the first half would show an increase of 4.35 per cent if the Bt277-million damage-compensation insurance of Thai Mitsuwa, related to 2011, were to be deducted, he added.
Apart from that, eleven MAI-listed firms posted continuing year-on-year growth in both revenue and net profit in the first half: Aira Factoring, Asian Phytoceuticals, Chu Kai, Fortune Parts Industry, Hot Pot, Kiattana Transport, Project Planning Service, Pylon, Qualitech, Thanasiri Group and Thai Plaspac.
The MAI index closed at 384.01 points on Monday, down 7.62 per cent from early this year. Overall stock value stood at Bt178.73 billion.
