Equity Analysis /
Thailand

TH : Supalai - 2Q22: Strong beat from transfers

    CGS-CIMB
    10 August 2022
    Published byCGS-CIMB

    2Q22 net profit increased 76.2% qoq and 19.9% yoy to THB2.07bn, beating our expectation by 19.6%. We maintain our residential revenue forecast of THB29bn in 2022F. We estimate its backlog at end-2Q22 secures 93.8% of our revenue forecast. Maintain Add with TP of THB25.25.