2023-07-11 15:00:33
Stock dimensions – ICHI Expected Q2/23 profit to hit the highest in 29 quarters
ICHI or Ichitan Group Public Company Limited by Krungsri Patanasin Securities expects Q2/2023 profit at 245 million baht, growing 61% yy and growing +11% qq, the highest in 29 quarters from both revenue and profit margin growth. The interest is expected to continue in the second half of this year. The overall picture of the green tea market has returned to grow strongly. Choose to be a top pick of the group. Recommend “buy” with a target price of 17.2 baht.
Profits make new highs around 29 quarters
Mr. Tan Passakornnatee, Managing Director, said that the Q2/23 budget was estimated to have a new high profit. Compared to Q1/23, net profit was 222 million baht, which was a new high in 28 quarters due to the virtue of being the peak of summer. And as a result of portfolio management, selling more products at 20 baht prices has improved margins, gross profit margins are expected to exceed 21% from Q1/23 at 20.8%.
Achieving achievements aiming to increase income
Earnings tend to grow at a high level continuously. The company may consider increasing the revenue target from sales in 2023 from the original expectation to grow 15% to reach 7,300 million baht compared to 2022 with sales revenue of 6,359.60 million baht.
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