AIT reported 3Q18 earnings of Bt61.8mn, -50%YoY. It expects revenue to drop and costs to stabilize next year. Backlog is Bt2.2bn. It is bidding for new projects to raise backlog. (Kao Hoon, 8/11/18)
Comment: The traditional IT sector in Thailand has been dead ever since the military came in.
ATP30 reported 3M18 earnings growth of 94.39%YoY driven by customer expansion, growth of tourism and cost control. It has already completely depreciated 25 buses. 3Q18 gross profit margin was 25.95%. It will sign a contract with a customer to provide 20 buses in 4Q18 and it will begin to book revenue from January 1, 2019. (Thun Hoon, 8/11/18)
Comment: Consistently providing good results as per what they guided to the market.
BCPG reported 3Q18 earnings of Bt1.139bn backed by extra gain from sale of assets and cost controls. ROI is on track. It is looking to acquire or undertake venture capital deals with other companies. It expects EIRR of 12-15%. (Thun Hoon, 8/11/18)
HMPRO expects 4Q18 earnings to grow, driven by high season. It plans to increase revenue contribution from its private brand to widen gross margin. It will open two HomePro S stores in Klongsan and Westgate Bang Sue next year. It is preparing its 2019 business plan and will submit it for board approval early next year. (Thun Hoon, 8/11/18)
Comment: In the end its improvements at the margins
ICN reported 9M18 earnings of Bt63mn, +43%YoY. Management expects 4Q18 results to be better. Backlog is Bt500mn. It expects revenue growth of more than 30% this year. It will draft next year’s business plan in December. (Thun Hoon, 8/11/18)
MBK will open Icon Siam on November 9. It says response to Icon Siam has been good, with rental areas full. This will boost its earnings growth. (Thun Hoon, 8/11/18)
Comment: It’s quite an impressive development. A new destination in Bangkok, but one that we think will not pull away domestic visitors from other shopping centers.
NER is confident in its fundamentals. It expects industry growth and high demand. It is preparing to talk with major customers both at home and abroad. It will add production capacity as planned. It expects 2018 results to be better YoY and it may have good news in 3Q18. (Thun Hoon, 8/11/18)
PLAT expects 2018 results to be good. Its hotels are reporting an occupancy rate of 90%. It will launch The Market Bangkok in February next year, supporting earnings growth of 40% next year. (Kao Hoon, 8/11/18)
Comment: There’s been a change in management…we wonder why.
PSH targets revenue from its luxury brand to reach Bt8bn. It expects transfers to grow 200-300% to Bt6bn. Current backlog is Bt16bn that will be booked as revenue through 2020. It will launch a new property project valued at Bt1.7bn at the end of this year. (Thun Hoon, 8/11/18)
PTTGC reported 3Q18 earnings of Bt12.8bn, +29%YoY, supported by higher aromatics and olefins prices. (Kao Hoon, 8/11/18)
SGP expects 2018 revenue to be a record high. It expects LPG sales to reach 3.5mn tons, growing more than 10%YoY. It expects LPG sales in Malaysia to increase in 4Q18. It reported 3Q18 earnings of Bt738mn, -12.64%YoY, as LPG price increased less than last year. (Kao Hoon, 8/11/18)
TRC says subsidiary SKW was awarded a Bt600mn job by PTTOR. In November, it expects to be awarded a Bt560mn highway construction project. It expects 3Q18 results to be good and will release 3Q18 performance on November 12. It will bid for projects with total value of Bt10bn in 4Q18. (Kao Hoon, 8/11/18)