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
Chalinee Congmuang

Equity Research Analyst

Bualuang Securities
11 July 2022


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