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Thai Q1 corporate profits surge 33% to 152.4b baht

May 25th, 2008 · No Comments

THAI-LISTED companies posted net profits of 152.4 billion baht (S$6.5 billion) in the first quarter of this year, a third higher than the same period last year, the Stock Exchange of Thailand revealed yesterday.
Year on year combined profits increased by 33 per cent in Q1 2008 for SET listed companies. Sales growth lagged profits by one per cent with turnover totalling 1.777 trillion baht. No sectors reported combined net losses.
Resources, financials, and services were the most profitable of the eight industry sectors, bringing in 52.9 billion, 28.2 billion and 17.4 billion baht respectively and accounting for 64.7 per cent of total net profits.
A strong baht and increased spending were seen as the main factors for the rise. “The overall earnings reports by listed firms for Q1 2008 showed an increase in both net profits and sales, due to gains from exchange rates and the increase of total sales,” said Nongram Wongwanich, SET executive vice-president.
The top five most profitable stocks were PTT, PTT Exploration and Production, Siam Cement, Siam Commercial Bank and PTT Chemical.
Surging rice costs saw the agro and food industry take the biggest percentage increase with profits jumping by 430 per cent to 4.76 billion, followed by technology industry with 155 per cent and industrial sector at 145 per cent.
Of the total 494 listed companies, 455 submitted reports and 71 recorded losses.
(C) Singapore Press Holdings Limited

Tags: business · news · The Business Times (Singapore)

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