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JWD: Decent Earnings Growth Profile in 4Q21 and Onward to 2022

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

Pi Research

Thai Equity - Bottom-up - Equities

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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

<ul>
<li>We expect the company to report 4Q21 net profit at Bt159m.(+110%YoY +14%QoQ), an all-time high level. YoY and QoQ expansion will be driven by a spike in equity income Bt102m </li>
<li>Anticipate revenue to hit all-time high at Bt1.4bn in 4Q21, mainly driven by high season for logistics segment and consolidation of overseas business.</li>
<li>Solid outlook for warehouse &amp; yard management in 2022, Potential upside from business expansion via multi-model strategy with JVs</li>
</ul>


We expect the company to report 4Q21 net profit at Bt159m.(+110%YoY +14%QoQ), an all-time high level. YoY and QoQ expansion will be driven by a spike in equity income Bt102m 
Anticipate revenue to hit all-time high at Bt1.4bn in 4Q21, mainly driven by high season for logistics segment and consolidation of overseas business.
Solid outlook for warehouse &amp; yard management in 2022, Potential upside from business expansion via multi-model strategy with JVs


JWD: Solid Earnings Growth Profile in 4Q21 and Onward to 2022E

JWD Infologistics

JWD: Solid Earnings Growth Profile in 4Q21 and Onward to 2022E