Despite the lacklustre economy, listed companies continued to do well in the first quarter of 2015. (File photo by Thanarak Khunton)

Listed companies posted a combined net profit of 226.86 billion baht, up 1.89% on year and 232.15% on quarter, in the first three months of this year, the Stock Exchange of Thailand said on Wednesday.

The quarterly jump was largely due to inventory revaluation of companies in the energy, utilities and petrochemicals sectors

SET executive vice-president Santi Kiranand said 499, or 92.97% of all 541 listed companies, had reported their first-quarter earnings as of Wednesday.

Their combined sales, however, dropped 10.83% year-on-year to 2.51 trillion baht. Gross profit margins improved to 22.01% from 19.07% while net profit margins climbed to 9.02% from 7.90%, reflecting improved cost management.

“Excluding the energy and petrochemicals sectors, which were hit by slumping world oil prices, sales growth of the listed companies would have increased 1.32% year-on-year,” he said.

The sector showing the highest growth in sales, net profits and gross profit margins was transport and logistics, followed by commercial banks, commerce, finance and securities, and property. Together, they made up 38.58% of the combined net profit.

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