CRC minus 3.10%, down 1.00 baht to 31.25 baht, trading value 385.24 million baht at 10.44 am from the opening price of 32.25 baht, highest price 32.25 baht, lowest price 31.00 baht.
Mr Wathan Jitsomnuek, Director of Strategic Analysis, Phai Securities, said that the Central Retail Corporation Public Company Limited (CRC) share price which has fallen is expected to come from the announcement of 1st quarter results 67 We expect CRC to have normal profit for 1Q24, stable YoY at 2.2 billion baht and decreased -24% QoQ as a result of higher interest costs. Offset by positive factors from sales expected to grow 5% YOY and positive factors from lower electricity costs.
Although the QoQ reduction is the result of seasonal factors, since 1Q24 there will be a supporting factor from the government’s Easy E-Receipt measures during 1 January 2024 – 15 February 24, but due to the purchasing power of consumers who are not very good Consequently, it is expected that same-store sales growth (SSSG) positive 3% YoY (Food +4%, Hardline -5%, Fashion +3%).
We maintain our “Buy” recommendation at an underlying value of 43.00 baht (previously 49.00 baht) after reducing our 2024-25 earnings forecast by 5% to 7% to reflect slower than expected sales growth in Thailand and Vietnam.
#HILITE #CRC
