WINNER: Slashing 18-20E Earnings on the Back of Falling Sales
WINNER reported 3Q18 net profit of Bt25.7m (-15%YoY and +13%QoQ). The result was slightly under our previous forecast so we revised down our net...
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WINNER: Shortfall in Sales Along with a Rise in SG&A Expenses
WINNER reported 1Q18 net profit of Bt20.5m (-8%YoY and -34%QoQ). The result accounted for just 18% of our full-year forecast. Sales dropped 7.5%YoY...
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WINNER: SG&A Surge Amid Drop in Sales Caused 4Q17 Profit Fell
WINNER had 4Q17 EPS of Bt0.076 (-2%YoY and +2%QoQ) The company reported 2017 EPS of Bt0.26, which was down 1%YoY and was 3% more than our full-year...
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WINNER: Food Solution Champion
We initiate coverage on WINNER with a BUY rating, based on a target price of Bt4.90 and derived from 17xPE’18E, the level at which it reached its...
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PM: New Directions to Lift Versatile Consumer Product Trader
We initiate coverage on PM with a BUY rating, based on a target price of Bt19.20 and derived from its 22.2xPE’18E of Asia ex-Japan Consumer...
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