Profits of MAI-listed companies fell by 21.21% in the second quarter of this year although sales grew by 5.63% year-on-year.
As of Aug 20, 97 of 100 companies listed on the Market for Alternative Investment (MAI), an exchange for small companies with paid-up capital of not less than 40 million baht, reported their earnings.
Their combined net profits plummeted 21.21% year-on-year to 687 million baht in the second quarter, said MAI president Prapan Charoenprawatt.
Of the 97 companies, 68 or 70% reported net profits for the April-June period.
Their total turnover rose 5.63% to 28.51 billion baht. Sales costs increased 5.07% while gross profit margin was 21.06% up from 20.64%.
"MAI-listed companies continued to be pressured by volatilities. Some businesses such as digital TV were in the investment phase, resulting in high operating and interest costs. But their gross profit margin and earnings before interest, taxes, depreciation, and amortisation continued to increase," said Mr Prapan.
For the first half of 2014, their total sales increased 7.71% year-on-year to 57.55 billion baht. But since sales costs grew 10.37%, gross profit margin fell to 20.83% from 22.74%.
Net profit tumbled 32.54% to 1.96 billion baht in the January-June period.
The top five companies with the highest net profits were Energy Absolute (EA) with 408 million baht, The Brooker Group (BROOK) with 73 million, Jubilee Enterprise (JUBILE) with 63 million, Fortune Parts Industry (FPI) with 62 million baht and Thai Nakarin Hospital (TNH) with 55 million baht.