BEAUTY

BEAUTY open to more foreign partners as it hopes this will put it in the lead in the ASEAN hub. The company plans to invest Bt200mn to open 78 new branches to help bump profits up by 20% a year. It said that the political turmoil has not harmed performance – sales in April are still good and earnings for 2Q14 will come out strong. (Tun Hoon, 14/05/14)

Comment: The war is between BEAUTY vs everyone else, it’s one tough business.

ECF

Despite a slowdown in the economy, ECF reported growth with 1Q14 revenue of Bt327.48mn and net profit of Bt22.60, up 113% YoY, supported by strong sales from customers abroad and better cost controls. It hopes revenue for the year will grow by more than 15%. (Khao Hoon, 14/05/14)

M

M: 2Q14 profit to be strong on seasonality. Management said the company is looking at a takeover deal and will invest Bt700mn to open 64 new stores. It is confident that revenues for the year will hit its target growth of 15%. (Tun Hoon, 14/05/14)

Comment: Well they have some THB 8 bn in cash after the IPO, better do something with it.

PCSGH

PCSGH reports 1Q14 sales at Bt1.09bn with profit of Bt231mn, with a high net margin of 21% and improving QoQ. It said it is looking to increase sales from new foreign customers to help push sales to reach its target for the year. (Tun Hoon, 14/05/14)

Comment: This company has THE best margins in the entire automotive sector in Thailand

SPCG

SPCG reports 1Q14 profit of Bt270mn, up 184% YoY. It is confident that it will book revenue for all 36 solar projects by 2Q14 and revenue will hit its target of Bt3.5bn. The company will issue bonds worth Bt4bn at the end of this month and use the proceeds to repay back debt and expand its business further. (Khao Hoon, 14/05/14)

Comment: Such a straightforward play, will blog about this shortly.

SVI

SVI said that 2Q14 sales will continue to grow from the US$65mn dollar in 1Q14, driven by continual growth of foreign orders. Sales for the year are expected to exceed its target of US$320mn. (Tun Hoon, 14/05/14)

Comment: SVI can only grow from these levels, they don’t need to expand capacity (B/c its already done) any additional new orders should only improve their margins (scale effect)

VGI

VGI buys stake in Master Ad – VGI Global Media Plc, Thailand’s largest transit-media provider and a unit of BTS Group, has acquired 24.43% of Master Ad Plc (MACO), the country’s largest outdoor media firm. The acquisition is worth Bt662mn or Bt9/share. (Bangkok Post, 13/05/14)