Bualuang Sees Bright Q2/69 Profits, Led by IT Retail, Pet Food, and Tourism Recovery

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Summary · why it matters

Bualuang Securities revealed that net profits for the second quarter of 2069 for stocks under its coverage came in 5.6% above market expectations, with 48% of stocks beating estimates compared to a five-year average of 37%. Standout performers were led by SCC, up 41% from its petrochemical business, SCGP up 20% from packaging and recycling, KKP up 18% from non-interest income, and TU up 10.9% from seafood demand. Meanwhile, DELTA missed profit forecasts by 31% due to supply chain issues. The research team also noted positive signals from IT retail sales at COM7 and ADVICE, which grew 10% and 17% year-on-year in July. In the lifestyle segment, MOSHI saw same-store sales rise 9% on the squishy toy trend. Tourism continued to recover, with foreign arrivals in July reaching 2.5 million, and ERW's revenue per available room expected to grow both year-on-year and month-on-month. Export demand for food and pet food remained strong, with TU projecting 5-6% growth and ITC projecting 10% growth. The investment strategy therefore focuses on COM7, ADVICE, MOSHI, CPALL, ERW, TU, and ITC.

Impact on assets 11

Consumer Discretionary▲ · 4 stocks
Com7 PCL
COM7
▲ PositiveDemandrelevance

IT retail sales at COM7 grew 10% YoY in July, a positive demand signal.

Consumer Staples▲ · 2 stocks
i-Tail Corp. PCL
ITC
▲ PositiveDemandrelevance

ITC projects 10% growth in export demand for pet food.

Electrification & Mobility▼ · 1 stocks
Climate Adaptation & Water▲ · 1 stocks
Materials▲ · 1 stocks
Financials▲ · 1 stocks
Digital Finance & Tokenization▲ · 1 stocks
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