Top Thai broker Kim Eng Q2 net profit up 35 pct

BANGKOK, July 31 Fri Jul 31, 2009 11:56am BST

BANGKOK, July 31 (Reuters) - Kim Eng Securities KEST.BK, Thailand's largest broker, reported a 35 percent rise in second-quarter earnings on Friday thanks to a jump in average daily trading volume, slightly above market expectations.

Kim Eng, a subsidiary of Singapore's Kim Eng Holdings KEHS.SI, posted an April-June net profit of 233.4 million baht ($6.9 million), or 0.41 baht per share, up from 173 million baht a year earlier.

The result was higher than a 229 million baht net profit forecast from two analysts surveyed by Reuters and was far above the 46 million baht it made in the first quarter.

Kim Eng stock closed unchanged at 13.20 baht before the results came out on Friday. The broader market index .SETI rose 0.3 percent.

Its shares have gained 66 percent since the start of this year, outperforming a 39 percent rise in the main stock index. The shares slumped 69 percent in 2008. ($1=34.01 Baht) (Reporting by Ploy Chitsomboon; Editing by Alan Raybould)