Stocks in the news (col, itel, jas, kce, mint, mtls, pdi, prin, pttgc, spvi, tcap, trc) 10.08.17
COL
COL expects a strong performance in 2H17 after it sold its online business to Central Group, which will boost its earnings 66%YoY. 2Q17 earnings increased by 23%YoY on rising orders. The growth will come from the e-book business as well. (Thun Hoon, 10/8/17)
Comment: Does this just go to show that the online business doesn’t work in Thailand? Or that COL should change its name to something else?
ITEL
NBTC will have to defend its authority to award the village internet project, covering 3,920 villages, already awarded to ITEL. as the Office of the Auditor General is questioning whether this should actually be under TOT (already approved by cabinet). ITEL expects the project award will be honored. But if it is not, it will not impact this year’s earnings. (Khao Hoon, 10/8/17)
JAS
JAS reports 1H17 earnings of Bt1.2bn, up 12%YoY, despite a fall in 2Q17 earnings to Bt552mn without the booking of extraordinary gain. The board approved an interim dividend of Bt0.20/share (XD August 21). (Khao Hoon, 10/8/ 17)
KCE
2Q17 revenue increased to Bt3663mn, with earnings at Bt672mn. It plans to expand production capacity (3rd phase) to support future growth. (Thun Hoon, 10/8/17)
MINT
MINT expects to benefit (along with other hoteliers) on the tax stimulus package for domestic travelers which is expected to pass the cabinet on August 10. The package should boost tourism activities toward year end. MINT 2Q17 earnings increases 24% to Bt737mn. (Thun Hoon, 10/8/17)
MTLS
MTLS reports 2Q17 earnings growth of 90%YoY on its branch expansion in rural areas. Its competitive advantages are its low interest rate and low NPLs (1.18%). It expects its loan portfolio, revenue and earnings to continue to break new highs and grow more than 50% this year. (Khao Hoon, 10/8/17)
Comment: There have been rumours regarding their ability to refinance..
PDI
PDI turned around in 2Q17, generating profit of Bt211mn (+108%), bringing 2H17 earnings to Bt523mn (+300%). Drivers are rising zinc price and the booking of energy income. (Khao Hoon, 10/8/17)
PRIN
PRIN reports 2Q17 earnings of Bt111.9mn, +51.36%, bringing 1H17 earnings to Bt155.4mn, +32.34%. It will pay a dividend of Bt0.06/share (XD on Aug 21). (Khao Hoon, 10/8/17)
Comment: Almost every property company had a decent 2Q
PTTGC
PTTGC: 1H17 earnings reads at Bt19.8bn, +105%YoY, with 2Q17 at Bt6.6bn, +34%YoY with support from higher sales and improving petrochemical unit. (Khao Hoon, 10/8/17)
SPVI
SPVI will benefit from the new iPhone introduction, supporting 4Q17 earnings. It aims to expand its business into the service sector, which characteristically offers a wider margin. Management expects revenue growth of at least 5% this year and will inject Bt20mn to add five more branches in the provinces. (Thun Hoon, 10/8/17)
Comment: COM7777777 time.
TCAP
EARTH: BoT to look into the dispute after TBANK sent documents explaining its court case related to EARTH to the BoT. TBANK will file a countersuit against EARTH today. (Khao Hoon, 10/8/17)
TRC
TRC’s 2Q17 profit came in at Bt71mn, +238%, after realizing revenue from PTT’s gas pipeline project. It expects to bid in 10 more auctions in 2H17 with total project value of Bt70bn, in which it expects to win Bt1.6bn. (Khao Hoon, 10/8/17)