Stock news 10:16 am 2024-02-13
JMT led the JMART group positively at 10:00 a.m. JMT rose 7.49% to 24.40 baht, an increase of 1.70 baht, trading value 129.30 million baht.
JMART added 5.26% to 16.00 baht, an increase of 0.80 baht, trading value 34.28 million baht.
SINGER added 4.85% to 10.80 baht, an increase of 0.50 baht, trading value 17.99 million baht.
Suthirak Mr. Aphorn Trichira Chief Executive Officer of JMT Network Services Public Company Limited (JMT) said operating results for 2023 were in line with target. Profits remained at an All-Time High at 2,011 million baht, growing by 15% since 2022. Total revenue was 5,087 million baht, an increase of 15%, coming from revenue from contracts with customers. Interest income – profit from loans, purchase receivables and increased insurance income
The total cash collection of the Company including the joint venture of the Company and JK AMC in 2023 was 8,710 million baht, an increase of 37% even under the economic situation which has not yet fully recovered. But with tight management Bring technology and applications to support them and expertise as a business leader AMC has debt in the portfolio bought to manage over the last 10 years, and is still able to collect and generate returns for JMT so far.
However, in 2023 JMT set a record for being the year it bought the most distressed debt to manage. It uses investment funds to buy debt totaling 7,311 million baht in 2014 and also considers 2024 as an opportunity for the debt management business, carefully targeting the investment budget for buying distressed debt. It will select distressed debt investments with the highest returns.
Trinity Securities believes that JMT’s share price has the opportunity to respond positively in the short term to 4Q23 profit of 540 million baht, which is better than expected by around 9%, with collections improving’ n better than expected About 12%, which is the profit share from JK AMC is better than expected, which is about 45%. as usual, with a target price of 40 baht.
As for Krungsri Patanasin Securities, they have a Slightly Positive outlook on JMT’s net profit in 4Q23 at 540 million baht, which is higher than our and the market expected by 4% and 5% respectively, with net profit at increased by 10% yy and 16% qq , the main reason being that cash collection has improved, in line with the larger bad debt portfolio. In particular, most of the debt portfolios purchased in 2023 were unsecured. along with seasonal factors
Still project net profit for 2024-25 and the same target price for 2024 at 34.50 baht based on PBV24F at 1.8 times (equal to an average of -1.6 SD) and maintain a Buy recommendation because looking at the current price, many negative factors have already been realized. It currently trades PBV24F at 1.3 times (corresponding to an average of -1.8 SD).
By InfoQuest News Agency (13 February 2024)
Tags: JMT , Thai stocks , JMT Network Services
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