BA reports 3Q17 loss of Bt157.28mn, on a fall in average revenue per passenger of 10.1% from intense competition in the industry. (Thun Hoon, 17/11/17)
Comment: Every airline posted another quarter of poor earnings, but if oil goes the way I think (i.e. down), every player should be benefit
BR plans to expand its product line to ready-to-eat and ready-to-cook food to facilitate outstanding revenue growth next year. It reports 3Q17 earnings growth of 126% from an increase in revenue from overseas and normalized production capacity. (Thun Hoon, 17/11/17)
Comment: Funnily enough the issues in the netherlands has led to the majority of their competition going bankrupt so now BR has some pricing power
ERW is budgeting Bt10bn for investment in 2016-20, to expand its hotels in Thailand and overseas. It targets revenue to grow by 8-10% in 2018 and plans to open 6-8 hotels with investment cost of Bt3bn. It signals 4Q17 result will be the highest in 2017 from high season. (Thun Hoon, 17/11/ 17)
GUNKUL targets 2018 revenue to grow by 20% and has budgeting Bt6bn to increase production capacity in Thailand and Japan with targeted COD of 300MW. It believes 2017 revenue will reach Bt4.5bn, growing by 30% as targeted. It also says that 4Q17 is high season for wind power plant. (Khao Hoon, 17/11/17)
JWD believes 2017 revenue will reach Bt2.4-2.5bn. It is planning to quickly close the deal to purchase a cold storage business in Indonesia worth Bt300-400mn and plans to negotiate with 45 more businesses. It has submitted its filling for an REIT worth Bt1.5bn and it expects to book profit in 1Q18. It projects 2018 revenue to grow by more than 10% and has budgeting Bt1-2bn for business expansion. (Thun Hoon, 17/11/17)
MINT reports 3Q17 earning growth of 15% from last year, backed by growth in hotel, food and lifestyle businesses. It believes 2018 earnings will continue to grow from growth in every business line. (Thun Hoon, 17/11/17)
Comment: They are the best players in the this industry not just in Thailand but perhaps regionally.
PTT will Bt1.4bn in extra gain from selling 5.40% of SPRC shares for Bt3.706bn in 4Q17. It announced that it will further expand its non-oil business, especially into food, where gross margin is high at 50%, and it expects healthy growth in the food business to continue. It also reports that it is now two businesses and confirms continuing the partnership with 7-Eleven. It plans to increase its branches by 150 next year. (Thun Hoon, 17/11/17)
SIRI purchased 50,000 shares of Prime-A from U for Bt836.97mn and accounting for 50% of shares and expects to get 2 rai of land in Sukumvit 38 worth Bt1.5bn for condominium development . (Khao Hoon, 17/11/17)
TACC signed an MOU with QJ, MLM and an e-commerce leader in China. It plans to sell the first lot of V-Slim within the next 2-3 months and plans to target more than 4mn families in its MLM customers base. (Khao Hoon, 17/11/17)
TFG will budget Bt2bn to increase broiler and feed mill production capacity. It also plans to further expand its business overseas, targeting revenue from exports to increase to 25%. It believes 2017 revenue will grow by 20%, supported by an increase in demand and production capacity. (Thun Hoon, 17/11/17)
Comment: GFPT has been coming down as a result of the fact that chicken prices don’t have anywhere to go but down in time, but TFG has remained quite strong. A Co visit next month should hopefully provide more insights.