Companies listed on the Stock Exchange of Thailand (SET) reported a combined profit of 410 billion baht in the six months through June, up 17.7% from a year earlier.
Combined earnings were compiled from 460 listed firms, or 93% of the total 495 companies, excluding those in the non-compliance and non-performing groups, in the first six months of this year ending June 30, the market said in a statement yesterday.
Of the reported firms, 368, or 80% of the total, recorded net profits.
PTT Plc (PTT), PTT Exploration and Production Plc (PTTEP), Siam Commercial Bank (SCB), Kasikornbank (KBANK) and Bangkok Bank (BBL) were the best performers for the period.
Total sales of the 460 firms rose 3.1% to 5.27 trillion baht in the first six months.
During the second quarter, net profits of the 460 firms totalled 165 billion baht, up 26% from the same period last year, while sales increased 1.1% to 2.6 trillion baht.
By industry, finance, resources, and property/construction were the top three best performers.
By sector, the top three performers were banking, energy/utilities and information/communication technology, with a combined net profit of 237 billion baht, or 57.8% of total earnings. Their sales contributed 54.8% of the total.
"Although sales in the second quarter and the first half grew only slightly when compared with a year earlier, more efficient cost management helped boost gross margins and yielded higher overall profits," said SET's executive vice-president Chanitr Charnchainarong.
In April-June, gross margins of companies in the energy, mining, petrochemical, and steel industries gained from decreasing losses from net realisable value of inventory and stock loss.
In addition, revenue from non-operational activities, including flood subsidies and profits from selling assets and asset re-evaluation, helped cushion higher losses from foreign exchange, he said.