Companies listed on The Stock Exchange of Thailand (SET) continue to report record high sales and earnings, with total profits for Q1/2011 of THB205.29 billion (approx. USD6.62 billion) or a 29.74% rise from Q1/2010, when total profits were THB158.24 billion (approx. USD5.10 billion). During Q1/2011, total sales were THB2.12 trillion (approx. USD68.41 billion) or an 18.22% year-on-year (y-o-y) increase. The top-3 industry groups with the highest profits were Industrials, Resources and Financials; PTT, SCB, IVL, PTTEP and SCC were the top-5 companies with the highest net profit.
Four hundred sixty companies, or 90.96% of all 506 SET-listed firms (including 32 property funds) have reported their Q1/2011 earnings, showing that 6 industry groups enjoyed net profit increases, SET President Charamporn Jotikasthira revealed. Their combined total net profits were THB205.29 billion (approx. USD6.62 billion), up 29.74% from the same time last year, when total profits were THB158.24 billion (approx. USD5.10 billion). Sales hit a record high of THB2.12 trillion (approx. USD68.41 billion), up 18.22% y-o-y and up 9.06% from Q4/2010, when total sales were TBH1.94 trillion (approx. USD62.72 billion). Of all SET-listed companies which have filed Q1/2011 financial reports, 393 of them, or 85.43%, recorded net profits.
“In Q1/ 2011, total sales and profits of SET-listed firms hit Q1 record highs since SET establishment, which reflected stable economic fundamentals and the ability of most companies to register profits despite rising operating costs as well as their preparing for expansion. Growth has been outstanding in SET50 stocks, particularly those in the Energy & Utilities sector. Total sales and profits have continued to rise since Q2/2010”, said Charamporn.
Companies in the SET100 index had combined net profits of THB182.72 billion (approx. USD5.89 billion) in Q1/2011, or around 89.01% of total net profits by all listed firms and a 35.27% y-o-y increase. Their sales rose 19.61% or THB297.76 billion (approx. USD9.60 billion), while gains from foreign exchange fell 84.92%, interest burden went up 15.96% and cost of sales increased 18.87%. As a result, their gross profit margin rose slightly from 19.70% to 20.19%.
The top-5 companies with the highest net profit were PTT PCL (PTT), Siam Commercial Bank PCL (SCB), Indorama Ventures PCL (IVL), PTT Exploration and Production PCL (PTTEP) and the Siam Cement PCL (SCC). Meanwhile, the top-5 industry groups with the highest combined profits were Resources, Financials, Industrials, Property & Construction and Technology. At the same time, the groups with the highest profit growth rate were Industrials, Resources and Financials. The Energy & Utilities, the Petrochemicals & Chemicals and the Banking sectors were the top-3 with the highest sales and net profit, with combined sales of 58% of total sales and combined net profits of 67% of total net profits.