Equity Analysis /
Thailand

TH : Siam Global House - More upbeat

    Chaiyatorn Sricharoen
    Chaiyatorn Sricharoen

    Research Analyst, CFA

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    CGS-CIMB
    26 March 2022
    Published byCGS-CIMB

    GLOBAL’s 1Q22F net profit was likely stronger than our previous estimate thanks to robust SSSG and gross margin expansion. We see a rebound in farm income as a decent catalyst for SSSG. We reiterate our Add call with a higher TP of THB26.