SET News :Thai listed firms’ Q3 earnings leap 252 pct to THB 209 billion

Thai listed firms’ Q3 earnings leap 252 pct to THB 209 billion

– Lower costs boosts gross profit margins up y-o-y to 23.7 pct

– Debt to equity ratio (excluding Financials industry) kept strong at 1.22 times

at end of Q3/2016

– Nine-month net profits worth THB 681 billion, up 35 pct from same period of

last year

BANGKOK, November 21, 2016 – Companies listed on The Stock Exchange of Thailand

(SET) reported a net profit of THB 208.99 billion (approx. USD 6 billion) in

Q3/2016, a 251.68 percent rise from Q3/2015, supported by falling costs and no

losses of foreign exchange rates and impairment.

Aggregate earnings were compiled from 527 listed firms, or 93.27 percent of the

total 565 companies (including property funds, real estate investment trusts and

infrastructure funds and excluding non-compliance and non-performing groups),

as of September 30, 2016. There were 425 companies making net profits,

representing 80.65 percent of the total listed companies already disclosed their

financial statements.

Decreasing global oil prices pushed down costs of production of most listed

companies, boosting gross profit up 9.50 percent to THB 590.66 billion and gross

profit margins up at 23.67 percent from 21.12 percent a year earlier, although

the overall sales dropped 2.27 percent to THB 2.50 trillion due to lower sales

of companies in Energy & Utilities and Petrochemicals and Chemicals sectors,

Meanwhile, Thai listed companies’ financial status at end-Q3 remained strong

with debt to equity ratio (excluding Financials industry) at 1.22 times, down

slightly from 1.23 percent at end-2015. From January to September, their net

profits were worth a combined THB 681.40 billion, a 34.94 percent rise from the

same period of last year, and their nine-month gross profit margin rose to 25.36

percent from 22.52 percent a year earlier, while their sales decreased by 4.41

percent toTHB 7.37 trillion.

Nevertheless, if excluding net profit of companies in Energy & Utilities and

Petrochemicals & Chemicals sectors affected by falling oil prices, the sales of

listed companies could be seen a 3.35 percent increase in Q3/2016 and a 4.51

percent increase in the first nine months of 2016, compared to the same period

of last year, while net profits could increase by 17.88 percent in Q3/2016 and

10.18 percent in the first nine months, compared to the same period last year.

SET Senior Executive Vice President Santi Kiranand said, “The overall

performance of the Thai listed companies in the first nine months has improved

corresponding to the macro economics factors that have recovered mainly from

services and consumer business. There were nine sectors that reported growth in

total sales, net profits and gross profit margin in the January-September period

compared to the same period last year, which are Banking, Property Development,

Food & Beverage, Steel, Fashion, Packaging, Home & Office Products,

Professional Services, and Paper & Printing Materials”.

Companies listed on Market for Alternative Investment (mai) reported net profit

in Q3/2016, a 34.51 percent year-on-year increase to THB 1.96 billion. As for

the first nine months of 2016,

it reported a net profit of THB 6.14 billion, a 2.05 percent rise from a year

earlier, added Santi.

Source: The Stock Exchange of Thailand

Post Author: thailandmirror.com