Equity Analysis /

TH : Mc Group - Unexciting outlook

    30 August 2021
    Published byCGS-CIMB

    MC’s 4QFY6/21 net profit was 30% below our forecast due to lower-than-expected sales and GPM. We expect MC’s earnings to remain weak in 1HFY22F due to stricter Covid-19 control measures and weak domestic consumption. We reiterate our Hold call, with a higher TP of THB10.