B555bn in H1 net profits seen
First-half net profits of SET-listed firms are projected at 555 billion baht, with about 150 listed companies set to pay interim dividends, says Asia Plus Securities (ASP).
ASP reported yesterday that 543 SET-listed firms representing 99% of total market capitalisation on Thailand's bourse had already announced their second-quarter results.
Total net profit came to 260 billion baht between April and June, up 20% year-on-year but down 12% quarter-to-quarter, according to the securities firm's research.
Listed companies operating in the real sector logged total net profit worth 192 billion baht, down 20% year-on-year and 15.4% quarter-to-quarter.
ASP research found that total net profit of SET-listed companies in the first half totalled 555 billion baht, representing about half the total net profit projection for full-year 2018 of 1.1 trillion baht.
With the first-half net profit projection, ASP will not revise down its net profit estimation for this year.
The research stated that after the end of the financial reporting season will come an entry period for the interim XD sign, a symbol used to signify that a security is trading ex-dividend.
Large-cap stocks expecting to announce interim dividend payments are Advanced Info Service Plc, Intouch Holdings Plc, Thai Union Group Plc and Indorama Ventures Plc.
ASP expects that there are 150 SET-listed firms that will post the XD sign in August, which is expected to have an effect on market dilution of 9.86 points.
Meanwhile, the Stock Exchange of Thailand has posted the suspended trading sign on 11 listed companies for failing to submit financial statements ending June 30, 2018.
They are Senko Thailand Plc, Energy Earth Plc, G Steel Plc, The International Engineering Plc, Inter Far East Energy Corporation Plc, KC Property Plc, LV Technology Plc, Nation Multimedia Group Plc, Polaris Capital Plc, Shun Thai Rubber Gloves Industry Plc and Yarnapund Plc.