Aggregate net earnings of listed firms up 7.22 per cent
March 08, 2014 00:00 By The Nation
Companies listed on the Stock Exchange of Thailand reported net profit of Bt789 billion last year, up 7.22 per cent from 2012, despite slow recovery of the global economy and Thailand's own sluggish economic growth.
The aggregate earnings were compiled from 491 listed firms, or 96.84 per cent of the 507 companies listed on SET (excluding those in the non-compliance and non-performing groups), for the whole calendar year of 2013. Of the reporting firms, 415 companies, or 84.52 per cent of the total, made net profits.
Total sales of the 491 companies rose 4.89 per cent to Bt10.98 trillion, the second consecutive year that annual sales exceeded Bt10 trillion. The top five firms, in descending order of absolute amounts of profits, were PTT, PTT Exploration and Production (PTTEP), Siam Commercial Bank (SCB), Kasikornbank (KBANK) and Siam Cement (SCC).
In addition, gross profit margin rose to 18.44 per cent in 2013 from 17.64 per cent a year earlier, while net profit margin increased to 7.19 per cent, from 7.03 per cent. Debt to equity ratio (excluding those in the financial industry) remained low, at 1.24 times.
SET executive vice president Chanitr Charnchainarong said 2013 performance of listed companies remained strong, “although the slower-than-expected global economic recovery affected upstream product prices in the energy, petrochemical, steel, agricultural, and food sectors, and caused foreign-exchange losses in some sectors. However, companies in financials, property, some businesses in services – commerce, hotels, media and publishing – and information and communications technology benefited from urban expansion, risk diversification, and industrial structural change, thus boosting their profits from a year earlier.”
He added: “Contracted consumption and private investment from the second half of last year weighed down sales and profits growth in the third and fourth quarters. The slowdown was shown in the manufacturing, services, property, and financials sectors. However, the food and electronics sectors reported rising growth, reversing the overall performance, as global economic recovery boosted exports.”
By industry group, the top three performers with highest net profit in 2013 were financials, resources, and property and construction, in descending order. By sector, energy and utilities, banking, and information and communication technology were the top three profit makers in terms of absolute amounts, with a combined Bt469.42 billion net profit, accounting for 59.47 per cent of total net profit of reporting listed firms. Sales of the three sectors accounted for 54.15 per cent of the total.