BLAND

BLAND expects 2Q14 earnings to break a record high with gross profit of Bt7-8bn in the quarter, up 60% QoQ, after reversing provisions set earlier for a court case that has now expired; operating performance was also strong. Its book value is also expected to increase to Bt3.25/share supported by the rise in land value. It plans to buy back Bt4bn worth of shares. (Khao Hoon, 15/07/14)

Comment: And yet they refuse to meet analysts, why is this?

BMCL

BMCL will move ahead in operating and maintenance of the Blue Line. It expects results to show at the end of this year. It is confident that it will win the bid for the Blue Line extension which should help increase the number of passengers by 150,000 per day and help push revenue growth to more than 10%. (Tun Hoon, 15/07/14)

Comment: BMCL should finally be profitable in a couple of years post the expansion of new lines, the last infrastructure play left in Thailand today?

DELTA

DELTA expects good 2Q14 earnings supported by the weak baht, which has weakened by 15.25% YoY. Management has set an investment budget of Bt10bn to close a takeover deal in Europe. It expects the deal to be concluded by December. DELTA says revenue this year will achieve target growth of 10% with demand for 2H14 expected to be strong. (Khao Hoon, 15/07/14) 

GFPT

GFPT: surge in exports helped 2Q14 earnings. It reaffirms that it will hit its target revenue growth of 8-10% this year. (Khao Hoon, 15/07/14)

Comment: The turnaround in GFPT’s performance is completed, now we just have to wait and see

GRAMMY

Grammy kicks off One HD – One HD, a digital high-definition channel owned by GMM Grammy Plc, will officially air on Aug 1 after delays stemming from the political turmoil. The entertainment giant set Bt300mn for content development for One HD in the second half of this year apart from a 15-year license fee of Bt3.32bn. (Bangkok Post, 15/07/14)

RICHY

RICHY road show in four big provinces: Hat Yai, Chiangmai, Chonburi and Bangkok. It is highlighting its advantage in cost management and high margin of 36%. It sees future potential in its business and plans to use the proceeds for business expansion. (Khao Hoon, 15/07/14)

SEAFCO

SEAFCO waiting on new work worth Bt500-600mn – Results will be out in two weeks. It expects revenue to reach Bt1.5bn this year, backed by backlog of Bt1.6bn, of which it expects to book Bt1bn this year. (Khao Hoon, 15/07/14)

Comment: Still the best piling co in the industry.

SITHAI

SITHAI: Strong 2Q14. It expects revenue of Bt2.55bn, up 14% YoY, driven by a surge in orders after Sermsuk added orders. Management sees a strong second half with revenue to grow by 20% YoY to Bt5.7bn, driven by large orders in the pipeline. It expects 2014 revenue to hit its target of Bt11.4bn, up 15% YoY. It also plans to list one of its subsidiaries. (Tun Hoon, 15/07/14)

Comment: Growth + #1 in the industry + listing of a sub, well there you go.

SOLAR

Changes business structure — SOLAR will be raising the share of alternative energy to 30%, which it is confident will be beneficial. It sees good potential in the solar business and expects strong results in 2016. This year it expects 30% revenue growth Yo9Y to Bt1.7bn, supported by its focus on exports and expansion in markets abroad. (Khao Hoon, 15/07/14)

Comment: Solar should move away from its manufacturing, there are in a stage of the industry where they add zero-value and can easily be undercut by Chinese manufacturing prices.