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Turkey 3Q21 earnings estimates: Attractive valuations for selected blue chips

ATA Invest Zeynep
Zeynep Erman @ ATA Invest 20 October 2021

Friesland Campina Engro Pakistan: 3QCY21 review – earnings dip seasonally; sales continue to impress

FCEPL has reported 3QCY21 NPAT of PKR544mn (EPS: PKR0.71), a massive jump from PKR29mn (EPS: PKR0.04) SPLY. The result is however lower by 37%qoq primarily due to seasonality. This is led by strong volumetric growth in all categories - particularly O...
Intermarket Securities Yusra
Yusra Beg @ Intermarket Securities 20 October 2021

Thailand (Bualuang): Agro & Food - “La Niña” to peak in 4Q21

Based on the El Niño-Southern Oscillation (ENSO) Diagnostic Discussion report of Oct 14, the CPC upgraded La Niña probability forecast again by 15 percentage points (ppt) for 4Q21 from 78% (in its Sep report) to 93% (in its Oct report), by 17ppt for ...
Bualuang Securities Prasit
Prasit Sujiravorakul @ Bualuang Securities 20 October 2021

Thailand (Bualuang): Consumer - Near term earnings play

Our survey indicates overall negative performances in 3Q21 on Same-Store-Sales (SSS) and property presales, in Figure 2-4. Top-three SSS winners are GLOBAL (+12% YoY), DOHOME (+15% YoY) and MAKRO (+0.5% YoY). Most retailers are expected to report SSS...
Bualuang Securities Narumon
Narumon Ekasamut @ Bualuang Securities 20 October 2021

Thailand: Agro & Food-USDA’s Oct report—negative on boosted US and global stocks

In its Oct 12 Crop Production report, USDA revised up the 2020/21 US SB yields by 1.6% MoM (from 50.2 to 51 bushels/acre) as of Oct 1, 2021, to reflect higher yields in 14 states and upped its 2020/21 US SB production by 2% (by 81m to 4.22bn bushels)...
Bualuang Securities Prasit
Prasit Sujiravorakul @ Bualuang Securities 19 October 2021

Pakistan Textiles – September 2021: Exports sustain sharp yoy growth

Pakistan’s total exports in September 2021 clocked in at US$2.4bn, up a sharp c.30% yoy from US$1.9bn, sustaining the US$2bn level since June 2021, while up 7% mom. US$1.5bn level since June 2021. The easing of restrictions in the West amid high vacc...
Intermarket Securities Abdul Ghani
Abdul Ghani Mianoor @ Intermarket Securities 18 October 2021