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Most SET-listed firms fare well in Q1

By   SOMLUCK SRIMALEE
THE NATION

 

COMPANIES in the energy, innovation and technology, food and beverage, and petrochemical segments listed on the Stock Exchange of Thailand have reported improved first-quarter financial results compared with a year earlier, a possible indication that the economy is recovering.

 

Some digital-television companies also did well in the quarter. Workpoint Entertainment reported net profit of Bt173.37 million, up a whopping 503 per cent from the Bt28.73 million it netted in the same period of last year.

 

Meanwhile, Nok Airlines reported a net loss of Bt295.56 million, still in the red but better than its net loss of Bt405.82 million in the same quarter of last year.

 

Satellite operator Thaicom announced consolidated net profit of Bt259 million, an improvement of Bt373 million or 327.2 per cent from its net loss of Bt114 million in the fourth quarter of last year.

 

Thaicom chief executive officer Paiboon Panuwattanawong said the improved earnings were mainly due to effective cost management and the company’s 2017 business strategy. It plans to expand its broadcast services in emerging markets, especially in the Greater Mekong Subregion and South Asia. 

 

Thaicom will be able to recognise revenue from these around the second half of the year, he said.

 

Padaeng Industry enjoyed favourable financial results in the first quarter, with net profits of Bt313 million, a big jump from Bt30 million in the first quarter of last year. PDI managing director Francis Vanbellen said the improvement was largely due to strong demand for zinc.

 

Ratchaburi Electricity Generating Holding reported net profit of Bt1.358 billion in the first quarter, rising 8 per cent from the same period of last year.

 

Netbay reported net profit of Bt26.4 million, up 37.9 per cent from the first quarter of last year, largely driven by its online marketing business, CEO Pichit Viwatrujirapong said.

 

WHA Utility and Power reported net profit of Bt272.5 million in the first quarter, up 340.3 per cent from the same period of last year.

Malee Group reported net profit of Bt118 million, up 8 per cent from the same quarter last year.

 

AP (Thailand) reported net profit of Bt548 million in the first quarter of 2017, up 20.67 per cent year on |year.

 

ND Rubber reported net profit of Bt12.62 million, up 173 per cent from the first quarter of last year.

 

Although most SET-listed companies reported improved financial results for the quarter, some sectors, especially property, did not. 

 

Supalai reported net profit of Bt687 million, down 51 per cent from the same quarter of last year. Quality Houses’ net profit of Bt644 million was down 28 per cent year on year.

 

Because of such declines, Bualuang Securities says it will lower its full-year forecasts for some sectors, especially property.

 

Source: http://www.nationmultimedia.com/news/business/corporate/30315046

 

 

-- © Copyright The Nation 2017-05-13