KSL: Expects sugarcane crushing volume in 2026/27 to rise to 8.5–9mn tonnes from 8.3–8.4mn tonnes last season. It also sees potential improvement in global sugar prices, citing higher Indian imports and lower Brazilian output, while pursuing partnerships in sweetener and renewable-energy businesses.

Comment: Sugar volumes should be lower, and prices higher – far above what the decline in volumes. Simple. 

GPSC: Expects Q3 earnings to decline due partly to the lower stake in AEPL, but expects to book around THB200mn gain from the sale of a Taiwan power-plant stake. It also targets 13,666MW of capacity by 2029 and is exploring a 300MW Data Center business in Thailand, with more clarity expected this year. 

PTTGC: Targets a 70:30 mix between Commodity and Specialty businesses by 2029, while continuing cost reduction and portfolio optimisation. Management aims to ensure the company does not return to losses over the next two years and sees Specialty and Green & Bio businesses as key growth areas.

Comment: We’re all waiting to see what the national petchem co is going to look like.

Earnings

COCOCO: Q2 net profit rose 58% YoY to THB122mn, highlighting continued earnings momentum.

Comment: The only agri export that has been growing (in double digits) for the past 3-4 years 

GGC: Q2 net profit reached THB351mn, bringing 1H net profit to THB448mn, helped by the government’s B7 policy, stronger demand and tight cost management.  

MRDIYT: Q2 net profit rose 19.4% YoY to THB757mn, bringing 1H26 profit to THB1.44bn (+22% YoY), supported by continued store expansion, higher transactions and disciplined gross-margin management. Revenue grew 17.8% YoY in Q2, while GPM improved to 52.0%. The company opened 59 new stores, bringing its total to 1,248, and approved an interim dividend of THB0.065/share, payable on 2 Sep. 

Comment: Do you see this? Remember HMPRO 20 years ago?

QH: Q2 net profit rose 37% YoY to THB458mn, beating THB422mn consensus.

SNNP: Q2 net profit THB69.8mn on revenue of THB1.33bn, supported by stronger sales of core brands Jele and Bento. Paid an interim dividend of THB0.16/share; management expects sales and margins to recover in 2H, supported by new products, marketing campaigns and further expansion in Vietnam.

WHAUP: Q2 net profit rose 276% YoY to THB531mn, beating THB449mn consensus, driven by higher share of profit from Gheco-One on improved energy margins from lower average coal costs, stronger raw/industrial water sales and growth in solar rooftop.