Sappe Public Company Limited, or SAPPE, expects operating results in the third quarter of 2026 to grow continuously, driven by recovering sales in several key markets, while pushing full-year 2026 revenue to grow 15 percent as targeted. For the second quarter of 2026, the company posted sales revenue of 1.5 billion baht, up 16.1 percent from the previous quarter, and net profit of 189 million baht, up 3.3 percent from the previous quarter, benefiting from a continued recovery in both international and domestic markets as well as cost management capabilities, despite facing challenges in the Middle East market. Asia Plus Securities' research department assesses that the profit trend in the third quarter of 2026 is likely to grow both from the previous quarter and from the same period last year, supported by seasonal factors, the start of product distribution by a new partner in Indonesia, heatwaves in Europe, and a low base in the US market, while maintaining a 2026 normalized profit estimate of 836 million baht and a 2027 target price of 35 baht with a speculative buy recommendation.
Sappe Public Company LimitedSappe expects Q3 2026 growth from recovering overseas sales, new Indonesia distribution, and heatwaves in Europe.
Asia Plus Group Holdings PCL
