Stocks in the news (bcp, big, bts, delta, fn, fsmart, ivl, plat, pstc, richy, robins, samco, singer, tae, trc, utp) 20.02.17
BCP
BCP reported 2016 profit of Bt4.7bn or growth of15%. The board approved a dividend of Bt1/share, XD on Mar 1. It is confident that 2017 EBITDA will grow 20%, supported by full capacity operations at its refinery. (Kao Hoon, 20/02/17)
BIG
BIG reported 2016 profit of Bt846mn, increasing 84% from 2015, setting a new high. 2016 revenue was Bt5.7bn. It expects to engage in the photo printing business and targets revenue growth from sale of mobile phones of 10-20% in 2017. (Thun Hoon, 20/02/17)
Comment: No surprises for 2016. Now for 2017 I have doubts on their ability to continue demonstrating the high growth that was seen in ’15 and ’16 and if that’s the case then the valuation currently worries me. However should they be able to continue convincing the public that BIG is 1) the place to buy all cameras 2) That consumers need to buy new cameras every 2 year cycle 3) Continue their store expansion 4) Sell other products through their network, then ok my concerns will be negated
BTS
BTS plans to set up two JVs with STEC and RATCH to handle the Pink and Yellow lines. Its stake is 75% with STEC taking 15% and RATCH 10%. It will ask board approval on Apr 3 and expects to sign a contract with the MRTA in 2Q17. (Kao Hoon, 20/02/17)
DELTA
DELTA expects 2017 revenue growth of 10%, driven by a 50% increase in revenue from India and the sale of four subsidiaries that report losses. It plans to expand in Asia and has budgeted Bt1bn to renovate two factories and open one new factory. (Kao Hoon, 20/02/17)
FN
FN plans to open two new branches this year, the first in 2Q17. It plans to invest more than Bt240mn. It expects 2017 revenue growth of 20%. It expects steady 1Q1y earnings with growth in 2Q17 supported by long weekends and a roadshow. (Thun Hoon, 20/02/17)
Comment: I’ve been spending more time looking at their outlets and now I just don’t see the story in fashion sales anymore. Could it just be a short term blip in customer traffic? I don’t know, but what we’re seeing at their pattaya, pakchong, ayudhuya branches don’t quite give me confidence. Then again the rental that they’re making off players like starbucks could mask a lot.
FSMART
FSMART reported 2016 profit growth of 55% to Bt420mnm supported by expanding its Boonterm top-up machines to 26,215. It will pay a dividend of Bt0.25/share, XD on Apr 12. It plans to expand Boon-term top up machines to reach 120,000 this year. (Kao Hoon, 20/02/17)
IVL
IVL reported 2016 net profit of Bt16.19mn, up145% YoY, boosted by solid orders and extra items from acquisitions. It is budgeting Bt35bn to expand its business. (Kao Hoon, 20/02/17)
Comment: So half of last year’s earnings were from accounting gains from revlauaing businesses. What tricks will they have up their sleeves for 2017?
PLAT
PLAT reported record high 2016 net profit of Bt704mn, up12% YoY. Its board approved a dividend of Bt0.18/share, XD on May 3. (Thun Hoon, 20/02/17)
PSTC
PSTC plans to take part in Bt500mn bids. It will focus on designing and setting up power supply. It expects 1Q17 performance to be good on the back of solar farms at government units. (Thun Hoon, 20/02/17)
RICHY
RICHY will post 2016 performance on Feb 28. It expects a 10% revenue growth. It targets 2017 revenue to be above Bt1bn on backlog of Bt4bn. It plans to launch four projects, valued at Bt6bn. (Kao Hoon, 20/02/17)
ROBINS
ROBINS reported 2016 net profit of Bt2.81bn, up 30.7%. It will pay a dividend of Bt1.25/share, XD on May 8. It plans to open three stores this year. (Kao Hoon, 20/02/17)
SAMCO
SAMCO expects the property sector to be stable from last year and expects developers to focus on low rise projects. It plans to launch three projects, with presales in 4Q17. It targets 2017 revenue growth of 10%. (Thun Hoon, 20/02/17)
SINGER
SINGER targets 2017 revenue growth of not less than 30%. It plans to raise the number of salespersons to 20,000 from 12,000. It plans to establish subsidiaries to engage in auto loans, focusing on trucks and personal vehicles. It will keep NPLs below 7% in 2017 from 10% in 2016. (Thun Hoon, 20/02/17)
TAE
TAE is budgeting Bt100mn to acquire new machines, which it expects will lower cost and raise margin to above 10%. It targets 2017 revenue growth of 10% to be fostered by high demand. It plans to broaden its customer base, focusing on new clients. It expects to get higher ethanol orders from the government’s policy for gasohol 91. (Thun Hoon, 20/02/17)
TRC
TRC expects to get Bt5bn in jobs in 1Q17 which will increase its backlog to Bt7-8bn. It expects this to boost its revenue growth by 20%. It plans to take part in upcoming bids. It plans to ask board approval for the 2016 financial statement on Feb 22. It confirms 2016 performance is better than 2015. (Thun Hoon, 20/02/17)
UTP
UTP is talking with clients in China and Vietnam, and expects to get substantial orders soon. It targets exports to comprise of 15% from 5%. It expects 2017 revenue to grow 100% aided by larger orders from 12 local clients. (Thun Hoon, 20/02/17)