Earnings Report /
Thailand

Eastern Polymer Group PCL: 2Q21 earnings as expected; stronger quarter ahead

  • In line with estimate

  • EPG reported a 2Q21/22 net profit of Bt412m

  • EPG’s core earnings look set to expand YoY and QoQ in 3Q21/22

Suppata Srisuk
Suppata Srisuk

Equity Research Analyst

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Bualuang Securities
11 November 2021

The expectations of strong core profit growth momentum through 3Q21/22 (Oct – Dec) and throughout FY21, with improved performance across all key businesses, should catalyze the share price going forward. Our BUY rating stands.

In line with estimate

EPG reported a 2Q21/22 (Jul-Sep) net profit of Bt412m, up by 34% YoY but down 8% QoQ. Stripping out extra items, core earnings would be Bt377m, up by 37% YoY but down 13% QoQ. The result was in line with our forecast and that of the consensus.