Companies listed on the Market for Alternative Investment (mai), under The Stock Exchange of Thailand (SET) group, reported a 18.9 percent increase in net profit to THB 2.64 billion (approx. USD 82.5 million) in the first six months of 2012, mainly supported by costs control.
The 72 mai-listed companies also posted a 18.4 percent rise in sales to THB 45.89 billion (USD 1.43 billion) with gross profit margins at 18.83 percent at the end of June, said mai President Chanitr Charnchainarong.
"Performances of mai-listed companies were upbeat in the first half of this year, with sales and net earnings growing about 18-19 percent from a year earlier. Although second-quarter sales dropped 2.61 percent from the first quarter, the firms showed rising effectiveness in their operations, triggering economies of scale and cost controls despite rising labor, fuel, and financial costs,” Chanitr said, adding that gross profits in the second quarter were at 18.83 percent, similar to 18.59 percent a year earlier.
Nine mai-listed firms reported growing sales and profits comparing with the first quarter and the same period of last year. These firms were Energy Earth plc (EARTH), Focus Development and Construction pcl (FOCUS), Halcyon Technology pcl (HTECH), Master Ad pcl (MACO), Multibax pcl (MBAX), QTC Energy pcl (QTC), Salee Industry pcl (SALEE), Tapaco pcl (TAPAC), and Thai Nondestructive Testing pcl (TNDT).
By quarter, companies reported a net profit of THB 1.15 billion (USD 36 million), up 19.39 percent from a year earlier, and sales rose 10.46 percent year-on-year to THB 22.63 billion (USD 707 million).
Currently, there are 74 mai-listed firms. As of August 17, 2012, the mai index closed at 316.07 points, rising 19.62 percent since the start of this year, with a total market capitalization of THB 88,975.16 billion (USD 2,780.47 billion) and daily average trading volume of THB 753.55 million. From January-July, mai-listed companies raised capital of a combined THB 2.03 billion, the highest valuation since the market founded. There is about THB 500 million fundraising planned for the rest of this year and about three companies plan to make initial public offerings.