Equity Analysis /
Thailand

TH : VGI - Almost back to normal

    CGS-CIMB
    5 April 2021
    Published byCGS-CIMB

    During CGS-CIMB’s Consumer Day, VGI said it saw positive media spending sentiment despite Covid-19, confirming our view of a recovery in FY3/22F. The core media business is expected to return to normal in FY3/22F following the hiccup in 4QFY3/21F (Jan-Mar 21). Reiterate Add and target price of THB9.00.