Minor International Set to Post Modest 2Q Core Profit Growth

Dow Jones
07/29

0233 GMT - Minor International is set to post a modest 2Q core profit growth, supported by a resilient hotel performance despite geopolitical headwinds and rising cost pressures, UOB Kay Hian analysts say in a report. The hospitality, restaurant, and lifestyle company's overall revenue per available room from its hotels is projected to be flattish on year at 1%, due to the Middle East conflict. Margins would also decline slightly due to cost pressures especially in the food business, as packaging and logistics costs are rising. UOB KH expects Minor International's 2Q core profit to rise 4.0% on year to 3.55 billion baht. It has a hold rating on the stock and a target price of 24.00 baht. Shares last closed at 22.30 baht.

 

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