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MINT Q1 Profits Surge to THB 1,146M
Published on 15/05/2024
» Minor International Public Company Limited (“MINT”) on May 14, 2024, announced its first quarter 2024 financial results, posting a net profit of THB 1,146 million in 1Q24 notwithstanding 1Q being the low season for its most significant contributor, its European hotel business. This profit represented a significant improvement from a THB 976 million loss in 1Q23 and was attributable to stronger performance across all business units as well as favourable foreign exchange movements. At the core level, MINT recorded a core net loss of THB 352 million in 1Q24 (due to aforementioned seasonality of the European hotel business), representing a 46% improvement (less loss) from a core net loss of THB 647 million in 1Q23. MINT’s hotel and restaurant businesses both reported robust financial performance in 1Q24 from continued rising demand, which enabled the Company to implement strategic dynamic pricing, drive increased dine-in traffic and lock in further cost optimisation. Minor Hotels Thailand, Minor Hotels Australia and Minor Food all saw double-digit year-on-year growth. Meanwhile, Minor Hotels Europe and the Americas outperformed expectations by narrowing their y-y quarterly losses.
CKPower reports a dip in Q1 revenue from seasonal factors
Published on 10/05/2024
» CK Power Plc, one of the region’s largest electricity producers from hydro power, reported a total revenue of 2.49 billion baht, a 195 million baht or 7.3% decrease compared to the same period last year, primarily due to the lower revenue from electricity and steam sales from Bangpa-in Cogeneration Limited (BIC) as a result of lower average natural gas prices and lower retail Ft compared to the same period of the previous year.
1,370 seen as a critical point for the SET
Published on 04/05/2024
» The Stock Exchange of Thailand experienced significant volatility in April. In the second week, the SET index broke above the key resistance zone between 1,400 and 1,405 after testing it for three months, reaching a monthly high of 1,411.
Subdued earnings performance puts pressure on SET
Business, Published on 09/03/2024
» The SET index established a trading range between 1,357 and 1,405 points in February. The bourse hit a low of 1,357 at the start before bouncing back, but traded mostly sideways for the remainder of the month. Key factors expected to influence market direction in March include:
Exit From Red Lobster brings record loss to Thai Union
Published on 19/02/2024
» Thai Union Group Plc, one of the world’s biggest seafood processors, posted a record quarterly loss after writing off investment in its Red Lobster restaurant unit.
Higher dividend expected from MINT’s record-high core profit
Published on 13/02/2024
» In a recent financial milestone, Minor International Pcl. (MINT) announced its record-high core profit of THB 7.1 billion for the year 2023, demonstrating a robust operating performance that has exceeded expectations. MINT earlier paid an interim dividend payment of THB 0.25 per share for the financial results in the first half of the year. The annual record-breaking profit announcement has sent a wave of optimism among investors and stakeholders, fuelling speculation that the upcoming dividend payment for 2H23 better-than-expected profit will surpass its first half. This anticipation is bolstered by MINT's strong cash flows from operations and a healthy cash balance of THB 14 billion, even after the repayment of all financial obligations. Such financial stability and growth momentum set a promising outlook for its upcoming dividend payment and future performance in 2024.
Trading range of 1,350 to 1,380 foreseen for SET
Published on 03/02/2024
» The SET index in January reached a monthly high of 1,438 points, but subsequently retreated. Breaking below the critical 1,400 threshold, it found support at 1,352, closely mirroring the low from December at 1,354.
Headwinds blow on Thai lenders amid interest rate row
Published on 31/01/2024
» The escalating tug-of-war between politicians and central bankers over interest-rate levels is clouding the outlook for local banks, setting the stage for a further exodus by foreign investors.
Asian rally on pause as China news awaited
Business, Published on 27/01/2024
» RECAP: The rally in most Asian markets was interrupted yesterday, with profit-taking seen in Hong Kong and Shanghai as traders await more guidance on China's plans to support the country's battered economy.
Financial crisis looms over Thailand
Oped, Chartchai Parasuk, Published on 25/01/2024
» The definition of an "economic crisis" is much debated in Thailand. This is because one of the requirements for enacting the emergency fiscal borrowing decree is that the economy must be in crisis.