We believe OSP’s mitigation plans will take time to effect change, so maintain our HOLD rating. Within beverage space, we currently prefer CBG.
Weak earnings in line with our estimate, but missed the street
OSP reported a net profit of Bt244m for 3Q22, down by 58% YoY and 60% QoQ. The number was in line with our estimate, but was 20% below the consensus.