SET firms post 3.7% profit rise for first nine months

Corporate November 21, 2017 18:53

By The Nation

Listed companies on the Stock Exchange of Thailand (SET) reported a combined net profit of Bt707.78 billion for the first nine months of the year, a 3.74-per-cent rise from the same period in 2016.

This is due to increased sales and profits in the Petrochemicals & Chemicals, Commerce, and Property Development sectors of the SET, mainly boosted by the rise in the price of oil, while the Thai economy has been gradually recovering during the course of the year.

SET senior executive vice president Santi Kiranand on Tuesday said the nine-month aggregate earnings had been compiled from 577 listed firms, or 93.82 per cent of the 615 SET-listed companies, including property funds, real estate investment trusts and infrastructure funds, and excluding the non-compliance and non-performing groups. 

There were 434 companies making a net profit, representing 75.22 per cent of the listed companies that had disclosed their financial statements covering the first three quarters.

The overall sales of listed companies from January to September were up 10 per cent year on year to Bt7.98 trillion, boosting gross profits by 5.25 per cent to Bt1.90 trillion and net profit by 3.74 per cent to Bt707.78 billion, he said. 

The sales rise of most listed firms, especially in the Energy & Utilities and Petrochemicals & Chemicals sectors, was due to the higher price of oil, Santi said, adding that the average gross profit margin decreased slightly to 23.81 per cent from 24.89 per cent in the same period last year.

Meanwhile, companies listed on the Market for Alternative Investment reported nine-month net earnings of Bt2.93 billion, down 34.37 per cent from the January-September period last year. 

Their net profit in the third quarter decreased 56.81 per cent to Bt593 million year on year, and 22.08 per cent quarter on quarter.