Thai Listed Securities Report 4.4 Percent Sales Growth in Q1/2019. Q1 Total sales up 4.4 pct to THB 2.92 trillion.
– Net profits worth THB 2.53 billion, down 9.3 pct y-o-y during Jan-Mar
– Food & Beverage, and Property Development were among top performers.
BANGKOK, May 27, 2019 – Securities listed on The Stock Exchange of Thailand (SET) and Market for Alternative Investment (mai) posted total sales of THB 2.92 trillion (approx. USD 91.3 billion) in the first quarter of 2019, up 4.4 percent a year earlier. Their aggregate net profit for the three months from January to March reduced by 9.3 percent over the same period last year to THB 2.53 billion, weighed by lower net profits of Energy & Utilities and Petrochemicals & Chemicals sectors. Food & Beverage and Property Development were among top performing sectors.
SET Senior Executive Vice President Manpong Senanarong said that 668 listed securities, accounting for 94.4 percent of the total 708 securities (excluding property funds, real estate investment trusts, infrastructure funds, non-compliance: NC and non-performing groups: NPG), submitted their quarterly earnings, ended March 31, 2019. Among those securities, 513 securities, representing 76.8 percent, delivered net profits.
“In the first quarter of 2019, Thai listed securities’ combined sales continued to improve but core operating profit totaled THB 273 billion, down 3.3 percent year-on-year. Core operating profit margin declined to 9.3 percent from 10.1 percent, pressured by Energy & Utilities and Petrochemicals & Chemicals sectors’ lower gross refinery margin (GRM) and price spread, in line with the global markets and tougher competition in Commerce sector and Consumer Products industry groups,” said Manpong.
Net profit margin of the first three months reduced to 8.6 percent from 9.9 the same period a year before due to foreign exchange loss and lower revenue recognition from investment,” added Manpong.
For listed securities’ financial position at end-March, their debt-to-equity ratio (excluding those in Financials Industry Group) edged higher to 1.32 times from 1.21 times in Q1/2018.
In terms of net profit, Food & Beverage sector was upbeat, driven by beverages, fresh food, and market expansion in Cambodia, Laos, Myanmar and Vietnam, while banking sector fared well, boosted by lending growth. Property Development sector outperformed others as homebuyers jumped on the bandwagon to transfer homes before an implementation of the mortgage lending measures in the second quarter.