Earnings Review: R&B Food Supply Plc. (RBF) in Food & Beverage
We still like RBF's business, with its wide variety of consumer products in the demand-supply chain and solid profitability. The firm's earnings...
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RBF: Recent Jump in Share Price Leads to Overvaluation
We initiate coverage on RBF with a SELL recommendation based on a target price of Bt8.70, implying a downside of 13% from the current price. We...
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Good Earnings Quality, Strong Financial Status But Fully Valued
We revise up the 2020-21E earnings forecasts by 10% and 18% to reflect the better-than-expected gross profit margin (GPM) on the back of new...
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Better-Than-Expected 1Q20 Earnings; GPM Has Upside
RBF reported better-than-expected earnings growth both YoY and QoQ in 1Q20 thanks to a wider-than-expected margin. The 1Q20 earnings accounted for...
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1Q20E Core Profit Expected to Grow by 22 %; Rating Upgraded to Buy
First, the impact from the ongoing spread of COVID-19 on the food flavoring and food coloring business is likely to be limited as around 88% of...
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