RS: Multi-Platform Commerce at Its Finest

JUBILE: Gross Profit Growth Causes Increase Bottom Line Growth

JUBILE: 12% Sales Growth Causes Increase Bottom Line Growth

JUBILE: Nation's Biggest Retailer of Diamond Jewelry

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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

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

JUBILE reported 2Q18 net profit of Bt49m (+8.9%YoY, +4.2%QoQ). The 1H18 result was 41% of our full-year forecast and in line with our forecast.  <ul class="">
<li>2Q18 sales was Bt423m flat on YoY due mainly to soft marketing activity.</li>
<li>Gross profit margin was widen to 42.9% from 40.2% in 2Q17 due to better product mixes.</li>
<li>Announced an interim dividend payment of Bt0.33 (XD on 21 Aug), which is equivalent to 1.5% dividend yield.</li>
</ul>We rate JUBILE as a BUY with 49% upside to our target price of Bt32.0*Please refer to…

JUBILE reported 2Q18 net profit of Bt49m (+8.9%YoY, +4.2%QoQ). The 1H18 result was 41% of our full-year forecast and in line with our forecast.  
2Q18 sales was Bt423m flat on YoY due mainly to soft marketing activity.
Gross profit margin was widen to 42.9% from 40.2% in 2Q17 due to better product mixes.
Announced an interim dividend payment of Bt0.33 (XD on 21 Aug), which is equivalent to 1.5% dividend yield.
We rate JUBILE as a BUY with 49% upside to our target price of Bt32.0*Please refer to…

JUBILE: Leading Retailer of Diamond Jewelry Enjoy Margin Expansion

Jubilee Enterprise

JUBILE: Leading Retailer of Diamond Jewelry Enjoy Margin Expansion