Companies listed on SET, MAI report sharp fall in combined net profit

SET senior executive vice president and head of the issuer and listing division, Manpong Senanarong, said that listed companies had total sales of 17.23 billion baht in 2023, down 2.6% year on year. Their production costs fell by 2.2% but marketing and administrative expenses rose by 3.9%.

He said those companies’ core profits totalled 1.65 trillion baht and their combined net profit was 961 billion baht, a decrease of 12.4% and 10.7%, respectively.

“The overall performance has weakened in both sales and operating profits. This is due to the drop in prices of various commodities, including oil, agricultural products and food. Also, operating expenses increased and interest rates remained high,” Manpong said.

He pointed out that tourism-related businesses – especially aviation, hotels, rental space, retail, and telecommunications – showed clear signs of recovery and steady growth, thanks to the government's promotional measures.

Companies listed on the Market for Alternative Investment (MAI) also saw their profits decline last year despite higher sales when compared to the previous year, Manpong said. Their total operating profit totalled 12.2 billion baht, compared to the combined net profit of 5.9 billion baht, a decrease of 10.2% and 35.1%, respectively, he said.

The MAI-listed companies reported total sales of 200.2 billion baht last year, up 2.1% year on year. However, they also saw higher costs last year, with the production costs accounting for 147.9 billion baht and sales and administration expenses of 40 billion baht, up 0.5% and 13.4%, respectively.