2023-10-30 09:23:20
Reporters reported that today (30 Oct. 2023) the stock price R&B Food Supply Public Company Limited or RBF Latest at 4:10 p.m., it was at the level of 10.90 baht plus 0.50 baht or 4.81%, highest at 10.90 baht, lowest at 10.30 baht, with a trading value of 27.73 million baht.
KGI Securities stated in its analysis today. that RBF expects 3Q23 net profit to hit a new record high of 175 million baht, growing 59% compared to the same period last year and growing 14% compared to the previous quarter. It is expected that revenue will increase 13% compared to the same period last year and 6% compared to the previous quarter due to an increase in the food coloring and flavoring group. and the fried dough group, GPM is expected to increase to 38.1% due to a decrease in wheat prices and an improved product mix.
In addition, RBF’s operating performance is expected to continue in a positive trend in 4Q23 because export demand remains strong and wheat flour costs are likely to decrease further. Choose RBF as one of our top stocks in 2023. Food and beverage group Because it is seen that the momentum of operating results will remain positive in the second half of 2023 and 2024.
TISCO Securities stated in its analysis that The upward growth trend will return. Continuing operations in the next 2 quarters, it is expected to see quarterly earnings at a record high once more at 172 million baht for 3Q23, growing 56% compared to the same period last year and growing 12% compared to the previous quarter. This is supported by further gross margin (GPM) recovery and the outlook for margins will strengthen from product mix along with improved outlook.
For the Chinese market (second half of 2023 should exceed 173 million baht from the first half of 2023), our GPM has been adjusted up to reflect the positive GPM trend from an improved product mix. and more channels for reducing costs After the opening of the factory in India in 1Q24, we therefore adjust the fair value to Bt13.00 and maintain our “Buy” recommendation, representing an upside of 19% compared to the latest share price.
Previously, Dr. Somchai Rattana Phumphinyo Chief Executive Officer along with Lt. Col. Chanjida Rattana Phumphinyo Company Director, Mr. Suranat Kittirattanadej, Chief Accounting and Financial Officer and Mr. Teerapat Yanathornkul, Chief Operating Officer,R&B Food Supply Public Company Limited or RBF stated that the trend for the second half of the year, sales and profits continue to grow. which received support from domestic sales and export to foreign markets This has enabled the company to grow outstandingly.
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