Minor International (MINT): The Best Stock for Thai Tourism Recovery?

MINT : Concern over Surging Utility Price in EU Has Priced In’’

MINT : Limited Downside from Recession in Europe

MINT : Continue to Deliver Solid Earnings in 2H22

Thai Equity - Bottom-up - Equities, Pi Securities PCL, Thailand

Pi Research

Thai Equity - Bottom-up - Equities

Leading, full-service investment firm in Thailand

Pi Securities PCL, Thailand

Pi Securities is a well known securities company with 40 years experience in the industry, serving more than 60,000 clients. We offer one - stop service providing full range of financial products and services including extensive Brokerage, Proprietary Trading (Equities and Bonds), Advisory Services, Structured Products.

Moreover, our new research team tailored for institutional clients to focus on mid to small cap of Thai equities and trading strategies. Our services offered to our premium clients also include arrangement of company or site visits to with the managements of Thai listed companies.

Note: Effective on 1 March 2022, Country Group Securities PCL changed its name to Pi Securities

Equity Bottom-Up

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<li>MINT report all-time high level of net profit at 4.6bn. However, stripping out extra items, core profit would be at Bt2.0bn (+66%QoQ vs. Bt2.4bn loss in 3Q21) </li>
<li>Two consecutive quarters of strong net profit   The company booked core profit at Bt2.0bn (+66%QoQ,turnaround from Bt2.4bn loss in 3Q21)supported by all-time high level of hotel revenue at Bt26bn</li>
<li>Food revenue climbed to all-time high level at Bt7.0bn (+16%QoQ +48%YoY) following strong SSSG at 16.6% compared with -7.2% and 7.8% in 3Q21 and 2Q22 respectively</li>
</ul>


MINT report all-time high level of net profit at 4.6bn. However, stripping out extra items, core profit would be at Bt2.0bn (+66%QoQ vs. Bt2.4bn loss in 3Q21) 
Two consecutive quarters of strong net profit   The company booked core profit at Bt2.0bn (+66%QoQ,turnaround from Bt2.4bn loss in 3Q21)supported by all-time high level of hotel revenue at Bt26bn
Food revenue climbed to all-time high level at Bt7.0bn (+16%QoQ +48%YoY) following strong SSSG at 16.6% compared with -7.2% and 7.8% in 3Q21 and 2Q22 respectively


MINT : 3Q22 Earnings Beat Our and Consensus Estimates