1Q21 net profit missed our forecast by 24% and Bloomberg consensus’ by 32% due to weaker-than-expected profit sharing from Lotus. 2Q21F will likely remain weak due to the third wave of Covid-19 outbreak in Thailand, but we expect a strong recovery in 2H21F. Reiterate Add, with a lower DCF-based TP of THB75.5.
- 1 Macro Analysis/Kazakhstan Kazakhstan: NBK keeps base rate on hold at 9%
- 2 Macro Analysis/Russia Russia: Retail sales rise 34.7% y/y in April on base effect, aboove expectations
- 3 Strategy Note/Global Peru election: Leftist Castillo 'wins'– implications for bonds, equities, copper
- 4 Strategy Note/Vietnam The ultimate guide to Vietnam fintech
- 5 Flash Report/Global El Salvador moves to make bitcoin legal tender; other countries may follow suit
This publication is being distributed by Tellimer solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not con...