JUBILE: Leading Retailer of Diamond Jewelry Enjoy Margin Expansion

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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

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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

JUBILE reported 1Q18 net profit of Bt47m (+41%YoY, -26%QoQ). The 1Q18 result was 20% of our full-year forecast and in line with our forecast.  <ul class="">
<li>Sales grew 9%YoY but dropped 8%QoQ due mainly to branch expansion.</li>
<li>Gross profit margin was widen to 48% from 44% in 1Q17 due to better product mixes.</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>We rate JUBILE as a BUY with 31% upside to our target price of Bt32.0*<a href="https://www.smartkarma.com/insights/jubile-nation-s-biggest-retailer-of-diamond-jewelry" target="_blank">JUBILE: Nation’s Biggest</a>…

JUBILE reported 1Q18 net profit of Bt47m (+41%YoY, -26%QoQ). The 1Q18 result was 20% of our full-year forecast and in line with our forecast.  
Sales grew 9%YoY but dropped 8%QoQ due mainly to branch expansion.
Gross profit margin was widen to 48% from 44% in 1Q17 due to better product mixes.
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 31% upside to our target price of Bt32.0*JUBILE: Nation’s Biggest…

JUBILE: Gross Profit Growth Causes Increase Bottom Line Growth

Jubilee Enterprise

JUBILE: Gross Profit Growth Causes Increase Bottom Line Growth