Equity Analysis /

TH : MK Restaurant Group - Strong recovery continued in 2Q22

    10 August 2022
    Published byCGS-CIMB

    2Q22 net profit beat our forecast by 17% on lower-than-expected expenses. We expect strong earnings growth momentum to continue in 3Q22F, thanks to improving domestic consumption, especially during the long holiday in Jul. Reiterate Add, with a lower DCF-based TP of THB60, as we factor in potential minimum wage hikes.