Thai listed companies' earnings are expected to expand 36.8% this year, propelled by the triple-digit percentage growth of the industrial and resources sectors, says the Investor Analysts Association (IAA).
The industrial and resources sectors are estimated to deliver 150% and 101% earnings growth in 2015, respectively. The technology sector's earnings are expected to grow 44.3%.
On the other end of the scale, the consumption sector is only projected to show 11.1% net profit gain this year.
The Stock Exchange of Thailand (SET) recently issued a statement that listed companies' aggregate net profit declined 11.3% to 702 billion baht last year. The combined earnings were compiled from 526 listed firms, or 98% of the total. The banking, information and communication, property development, food and beverage, and insurance sectors were the top five for net profit, accounting for 58.1% of reporting listed firms.
Concerns over downside risk to listed companies' earnings growth triggered by a flurry of cuts to Thai economic growth forecasts have capped upside gains on the local bourse.
The IAA consensus stated that companies listed on the SET50 index could still be the major driver for overall listed companies' earnings growth this year, with a 29.9% increase. The consensus was gathered from securities analysts' forecasts for 164 listed companies, 83% of market value.
"The petrochemical business is the major growth driver of the industrial sector as oil companies fuel the resources sector," the IAA said in a note.
Three months ago the consensus was the operating results of resources and petrochemicals will slide while retail, transport and banking sectors benefit from the oil price slump.