Companies listed on Market for Alternative Investment (mai) reported positive results in the first quarter of 2021 compared to the same period last year, with total sales up 2.1 percent to THB 45.05 billion (approx. USD 1.43 billion), operating profits surging 36.8 percent to THB 3.13 billion, and net profits surging 601.3 percent to THB 2.51 billion. All industry groups reported net profit growth.
mai President Prapan Charoenprawatt said that a total of 172 mai-listed firms, or 97 percent of all the181 firms (as of May 18, 2021, excluding non-compliance or NC, those with different accounting period closing dates, those having late report submission, and those requesting deadline extension) submitted their first-quarter financial reports, ended March 31, 2021. Of all the submissions, 122 listed firms, or 71 percent, recorded net profits.
mai-listed firms' aggregate sales for the first quarter of 2021 rose 2.1 percent from the same period last year to THB 45.05 billion. Their total costs were up 1.7 percent to THB 34.86 billion. The gross profit margin widened to 22.6 percent from 22.3 percent. Their operating profits increased 36.8 percent to THB 3.13 billion, with the higher operating profit margin of 7.0 percent from 5.2 percent. As a result, their total net profits jumped 601.3 percent to THB 2.51 billion from some firms' extra items. Regarding mai-listed firms' financial position ended Q1/2021, their total assets amounted to THB 289.70 billion. The overall capital structure remained robust, with debt-to-capital ratio edging down to 1.08 times from 1.11 times at end-2020.
When compared with the previous quarter (Q4/2020), mai-listed companies reported a 0.4 percent drop in sales but recorded a 45.6 percent rise in operating profits, and a 97.9 percent increase in net profits in the first quarter of 2021.
"mai-listed firms' performance in Q1 showed increasing profits and sales in spite of the COVID-19-induced economic slowdown. This resulted from the improved efficiency of costs and expenses management, and significantly all industry groups delivered net profit growth," Prapan said.
As of May 24, 2021, there were 182 mai-listed companies. The mai Index closed at 472.73 points, with a total market capitalization of THB 353.91 billion and average daily trading value of THB 4.27 billion.