Thai Equity - Bottom-up - Equities, Pi Securities PCL, Thailand

Pi Research

Thai Equity - Bottom-up - Equities

Leading, full-service investment firm in Thailand

Pi Securities PCL, Thailand

Pi Securities is a well known securities company with 40 years experience in the industry, serving more than 60,000 clients. We offer one - stop service providing full range of financial products and services including extensive Brokerage, Proprietary Trading (Equities and Bonds), Advisory Services, Structured Products.

Moreover, our new research team tailored for institutional clients to focus on mid to small cap of Thai equities and trading strategies. Our services offered to our premium clients also include arrangement of company or site visits to with the managements of Thai listed companies.

Note: Effective on 1 March 2022, Country Group Securities PCL changed its name to Pi Securities

Equity Bottom-Up

FTE posted net profit in 1Q18 of Bt17m, (-39%YoY, -53%QoQ). 1Q18 earnings accounted for 12% of our 2018E full year forecast. We are reviewing our projection and target price.<ul>
<li>FTE posted net profit in 1Q18 of Bt17m, (-39%YoY, -53%QoQ). The delayed in some projects work caused the revenue and profitability shortfall in the quarter.</li>
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Its 1Q18 revenue was Bt221m (-5%YoY, -12% QoQ). Gross profit margin was narrow at 21.2%, compared to 24.4% in 1Q17 and 28.4% in 4Q17, due to the revenue mixed and…</li>
</ul>

FTE posted net profit in 1Q18 of Bt17m, (-39%YoY, -53%QoQ). 1Q18 earnings accounted for 12% of our 2018E full year forecast. We are reviewing our projection and target price.
FTE posted net profit in 1Q18 of Bt17m, (-39%YoY, -53%QoQ). The delayed in some projects work caused the revenue and profitability shortfall in the quarter.

Its 1Q18 revenue was Bt221m (-5%YoY, -12% QoQ). Gross profit margin was narrow at 21.2%, compared to 24.4% in 1Q17 and 28.4% in 4Q17, due to the revenue mixed and…


Firetrade Engineering

FTE: Disappointing Performance in 1Q18