Finansia Syrus Securities Company Limited Noted in the analysis today (9 May 2024) recommending “buy” the stock.S Hotels and Resorts Public Company Limited or SHR Target price of 4 baht after reporting normal profit for 1Q24 at 129 million baht, up 99% from the previous quarter, supported by the peak season, but down 11% from the previous year, better than expected by 18%, but close to market expectations. of other income higher than expected
Operations received support from hotels in the Maldives, Thailand and Outrigger which saw occupancy rates increase (Rev Par) only the UK was relatively stable from long-term contracts ending at some hotels.
Regarding the forecast for the 2nd quarter of 2024, it is expected that losses will decrease compared to the previous year. Still forecast normal profit for 2024 at 307 million baht, which is growing 285% from last year Valuation is still cheap.
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