Equity Analysis /

Siam Makro PCL: Swift HoReCa recovery; strong 2023 profit growth profile

Strong makro earnings outweighed by heavy Lotus’s expenses
Higher interest rates, a weak baht, further headwinds for 2022
More bullish over the 2023-24 earnings outlook

Chalinee Congmuang

Equity Research Analyst @ Bualuang Securities

11 July 2022

Published byBualuang Securities

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