- Q1/23 Sales up 5 pct y-o-y to THB 52.33 billion
- Quarterly operating profits up 10 pct y-o-y to THB 3.29 billion
Agro & Food industry, Property & Construction, and Technology seen growth in sales, operating profit and net profit
Companies listed on Market for Alternative Investment (mai) delivered a 5 percent year-on-year rise in total sales to THB 52.33 billion (approx. USD 1.51 billion) for the Jan-to-March period of 2023. Their quarterly operating profits increased 10 percent from the same period a year earlier to THB 3.29 billion, buoyed by cost controls.
mai President Prapan Charoenprawatt said that 198 mai-listed companies or 96 percent of all the 206 companies (excluding those in the non-compliance or NC list and those with different closing dates for accounting period) submitted their financial reports for Q1/2023. Out of these, 142 listed companies reported net profits, representing 72 percent.
For the first quarter of 2023, mai-listed companies’ total sales rose 5 percent on year to THB 52.33 billion while cost of sales was up 3 percent to THB 40.05 billion. The companies managed to control costs at a satisfactory level, resulting in a 10 percent increase in operating profits to THB 3.29 billion. The overall net profits dropped 32 percent from the same period a year before to THB 2.15 billion due to the high base effect of COVID-19-related product sales and the absence of earlier one-off gain worth THB1.4 billion recorded by a company in the Industrials industry group. If the extra items of all mai-listed companies had been stripped out, their total net profits would have risen by 34 percent on year.
“In the first quarter of 2023, the majority of mai-listed companies recorded sales growth in line with the domestic recovery after the COVID-19 pandemic receded. Significantly, mai-listed companies were able to control the ratio of cost, and selling, general and administrative expenses to total sales. As a result, the profitability ratio of listed companies increased compared to the same period last year, with three industry groups consisting of Agro & Food industry, Property & Construction, and Technology seen growth in sales, operating profit and net profit,” added Prapan.
Regarding financial position, mai-listed firms’ total assets as of March 31, 2023 amounted to THB 324.30 billion, or a 3.1 percent increase from the same period last year. The overall financial structure has been enhanced as seen by the fact that the debt-to-equity ratio (D/E ratio) decreased from 0.82 times at the end of 2022 to 0.78 times at the end of March 2023.
As of May 25, 2023, there were 206 listed companies on mai and mai Index closed at 484.95 points, with a total market capitalization of THB 479.38 billion, and average daily trading value of THB 2.97 billion.