SNC: Downgrade to “HOLD” to Factor in Gloomy Outlook

SNC: Better Product Mix Cause 1Q18 Bottom Line Growth

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

SNC: 16% Drop in SG&A Cause 2017 Bottom Line Growth

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><a href="https://www.smartkarma.com/entities/5814" target="_blank" data-smartkarma-citation="entities:5814:1">Snc Former Pcl (SNC TB)</a> reported 2Q18 recurring EPS of Bt0.38 (-7%YoY, -38%QoQ). The 1H18 recurring EPS was Bt0.99 (+32% YoY) and was in line with our forecast The 1H18 result was 68% of our full-year forecast and was in line of our forecast.  </p>
<ul class="">
<li>The YoY drop in earnings was due to a revenue drop 23% YoY. However, gross profit margin increase to 13.8% from 11.7%</li>
<li>Restructuring of businesses pushed SG&amp;A expense to drop 11%YoY.</li>
<li>Announced an interim dividend payment of Bt0.5 (XD on 15 Aug), which is…</li>
</ul>

Snc Former Pcl (SNC TB) reported 2Q18 recurring EPS of Bt0.38 (-7%YoY, -38%QoQ). The 1H18 recurring EPS was Bt0.99 (+32% YoY) and was in line with our forecast The 1H18 result was 68% of our full-year forecast and was in line of our forecast.  

The YoY drop in earnings was due to a revenue drop 23% YoY. However, gross profit margin increase to 13.8% from 11.7%
Restructuring of businesses pushed SG&amp;A expense to drop 11%YoY.
Announced an interim dividend payment of Bt0.5 (XD on 15 Aug), which is…


SNC: Announced an Interim Dividend Yield at 3.3%

SNC Former PCL

SNC: Announced an Interim Dividend Yield at 3.3%