BEAUTY
BEAUTY reported 1Q17 revenue of Bt687.53mn, up 29.7% with net profit of Bt199.65mn, up 54.5% on the back of better sales at each distribution channel. It continues to expand both at home and abroad and also plans to distribute to King Power and 1,100 7-Eleven stores. It plans to expand to an online channel, which will boost e-commerce into 60% growth. (Thun Hoon, 15/05/17)
Comment: Impressive growth numbers but at a declining rate.

BEM
BEM reported 1Q17 revenue of Bt3.77bn, up 23%. Net profit is stable at Bt702mn. (Thun Hoon, 15/05/17)

BIG
BIG expects 2017 performance to mark a record high with 10-20% revenue growth. It plans to open 10 Big Camera stores/year. It also continues to expand to the photo printing business to support its existing business. It reported 1Q17 net profit of Bt239mn . (Thun Hoon, 15/05/17)

CPF
CPF is planning a 1,548.59mn share capital increase by offering rights to existing shareholders at a ratio of 5 old to 1 new priced at Bt25/share. It expects this to bring in Bt38.715bn, with Bt27bn of that used for debt repayment and the remaining Bt11.715bn will be set aside for investment. Its 1Q17 net profit was Bt3.955bn. (Kao Hoon, 15/05/17)
Comment: Shouldn’t this indicate a temporary top in the agricultural market? No company would happily increase equity unless they can get a stupidly high price.

DELTA
DELTA expects 2Q17 performance to continue to grow. It expects 2017 net profit to mark a record high. It plans to set up two plants in India from which it will supply products to Europe. It targets this to contribute revenue of US$1bn within five years from the current US$200mn. This will attract institutional investors. (Thun Hoon, 15/05/17)

DEMCO
DEMCO continues to take part in Bt31bn public project bids. It recently got a Bt279.14mn PEA project which increased its work on hand to Bt4.532bn. It expects 80-90% of work on hand to be booked this year. It expects revenue and net profit to return to a normal level. (Thun Hoon, 15/05/17)
Comment: Turnaround still ongoing, we’ve heard that next month will be critical for WEH on whether or not the IPO will proceed.

EA
EA reported 1Q17 net profit of Bt979mn, up 37% thanks to the solar farm in Phitsanulok and wind power plants. It expects 2Q17 performance to continue to grow driven by government policy to adjust pricing for B7. (Kao Hoon, 15/05/17)

FORTH
FORTH expects 2017 net profit to mark a record high with a good performance in 2Q174Q17. Behind this is higher revenue and profit sharing from FSMART. It plans to sell top-up machines to Indonesia in June, targeting 30,000 machines at the end of this year. It plans to take part in Bt2-3bn bids. (Kao Hoon, 15/05/17)
Comment: The value in this company is driven by FSMART

FSMART
FSMART expects 2Q17 performance to continue to grow brought by 6,000-7,000 Boon-Term top up machine expansion. It expects to show record high net profit in every quarter. It reported 1Q17 net profit of Bt132mn, up 50%. It targets 2017 revenue to grow 20% with 122,000 top-up machines at the end of 2017. (Kao Hoon, 15/05/17)
Comment: Still an impressive growth machine.

GLOBAL
GLOBAL expects 2Q17 earnings to be good brought by numerous orders and new stores. It targets 2017 revenue to grow 10% from last year. It is budgeting Bt2bn for store expansion. It is talking to a prospective partner in Cambodia with hopes of boosting revenue from abroad. (Thun Hoon, 15/05/17)
Comment: W/ the change in accounting policy supporting the growth in 2016 #’s, 2017 will show whether or not they can continue expanding throughout Thailand and the region, I still hate the inventory turnover..

IHL
IHL reported 1Q17 net profit of Bt73.32mn, up 32% because of lower raw material costs and a focus on service projects. It expects 2017 earnings to grow 10% as targeted, brought by revenue contribution from its new business and Bt700mn revenue from GLI. (Thun Hoon, 15/05/17)

K
K expects 2Q17 performance to be better brought by the interior decoration business. It plans to take part in Bt1bn bids for interior decoration projects for hotels and department stores. It expects this to be finalized soon. (Thun Hoon , 15/05/17)

MTLS
MTLS showed 80% revenue growth with 91% net profit growth in 1Q17 on the back of its expansion and 1mn added to its customer base from its new strategy. It targets 2017 loans to reach Bt50bn. It continues to open 600 new branches to lift its performance to a record high. (Thun Hoon, 15/05/17)
Comment: Astounding #’s, management still thinks they can do the same this year.

NETBAY
NETBAY reported 1Q17 net profit of Bt26.4mn, up 37.9% YoY brought by business model restructuring to online transactions. It expects 2Q17 performance to be good on the back of the government’s Thailand 4.0 policy which will increase online activities. (Thun Hoon, 15/05/17)
Comment: I was surprised by this profit growth figure. I didn’t think that the company had this level of growth in them

PK
PK reported 1Q17 net profit of Bt79.34mn from a net loss of Bt3.26mn. 1Q17 revenue was Bt1.21bn on higher revenue from sales and services as well as expansion both at home and abroad. (Thun Hoon, 15/05/17)

PRIN
PRIN expects a strong performance in 2Q17 brought by Bt226.77mn backlog to be booked. It reported 1Q17 revenue of Bt591.9mn with net profit of Bt43.44mn. It plans to launch four new projects valued at Bt1.8bn this year, both high rise and low rise. (Thun Hoon, 15/05/17)

SGP
SGP expects 2Q17 performance to be good driven by recovery in LPG price. It expects 2017 revenue to reach Bt60bn on numerous orders and higher selling price. It is budgeting Bt500600mn for investment to support its long term growth. (Kao Hoon, 15/05/17)

SPA
SPA reported 1Q17 net profit of Bt45mn, up 28% with revenue of Bt227mn, up 29.17%. It continues to expand at home and abroad, targeting 10 branches this year. (Kao Hoon, 15/05/17)
Comment: How many more massage firms can this company buy?

SPRC
SPRC expects 2Q17 performance to continue to grow brought by a better refinery margin. It expects its refinery to operate at an average of 165,000barrel/day in 2017. It is budgeting US$20mn for maintenance and improving production efficiency. (Kao Hoon, 15/05/17)

TACC
TACC expects 2017 net profit to mark a record high with revenue growth to be higher than 10-15%. It plans to launch new products both at home and abroad. It expects substantial growth in 2Q17. It reported 1Q17 revenue of Bt287.07mn with Bt25.82mn net profit. (Thun Hoon, 15/05/17)

TAKUNI
TAKUNI posted 1Q17 earnings growth of 12.9% with 23.12% growth in revenue. Its backlog is Bt528.97mn. (Thun Hoon, 15/05/17)

TM
TM posted 1Q17 net profit of Bt7.89mn, up 4.09% YoY on the back of higher orders from hospitals and FX gain. (Thun Hoon, 15/05/17)

TSE
Institutional investors are interested in TSE shares because of its strong fundamentals. It targets production of 120MW this year, up from 113-115MW now. It plans to bring this to 180MW by the end of 2018. It plans to invest in a 40-50MW Japanese solar farm, with more information available in in 3Q17. (Thun Hoon, 15/05/17)

TTW
TTW expects sales to recover over the rest of the year because of high demand from factories as exports improve. It expects gross margin to be better mainly driven by the Pathumthani plant. (Thun Hoon, 15/05/17)

WIIK
WIIK’s backlog is Bt745.9mn. It reported 1Q17 net profit of Bt30mn with revenue of Bt305.73mn, up 2.73% YoY. (Thun Hoon, 15/05/17)

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