JUBILE: Gross Profit Growth Causes Increase Bottom Line Growth

JUBILE: Leading Retailer of Diamond Jewelry Enjoy Margin Expansion

SMPC:  25% Sales Growth Causes a Stable 2017 Net Profit

JUBILE: Nation's Biggest Retailer of Diamond Jewelry

SMPC: Top-Three of Global LPG Cylinder Manufacturers

SNC: Cool Breeze Brings in 2018 Earnings and Core Business Revival

ARROW: Revenue to Flow Down the Pipe Amid Product Expansion

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

<p>JUBILE had 4Q17 recurring EPS of Bt0.36 (+29%YoY, +41%QoQ). The FY2017 recurring EPS was Bt1.06 (+17%YoY) and was 12% better than our forecast. </p><ul>
<li>4Q17 net profit was the record quarter driven by 16%YoY sales growth.</li>
<li>CRM implementation in selling and marketing plan as well as new product development is a main driver for sales growth (+12%YoY).</li>
<li>Announced an interim dividend payment of Bt0.37 (XD on 9 May), which is equivalent to 1.5% upcoming dividend yield.</li>
</ul><p>We rate JUBILE as a BUY with 38% upside to…</p>

JUBILE had 4Q17 recurring EPS of Bt0.36 (+29%YoY, +41%QoQ). The FY2017 recurring EPS was Bt1.06 (+17%YoY) and was 12% better than our forecast. 
4Q17 net profit was the record quarter driven by 16%YoY sales growth.
CRM implementation in selling and marketing plan as well as new product development is a main driver for sales growth (+12%YoY).
Announced an interim dividend payment of Bt0.37 (XD on 9 May), which is equivalent to 1.5% upcoming dividend yield.
We rate JUBILE as a BUY with 38% upside to…

JUBILE: 12% Sales Growth Causes Increase Bottom Line Growth

Jubilee Enterprise

JUBILE: 12% Sales Growth Causes Increase Bottom Line Growth