Mother Marketing Public Company Limited

Mother Marketing Public Company Limited, or MOTHER, a retail and wholesale consumer goods operator under the Mother Supermarket and Mother Marche brands in Krabi, Phang Nga and Surat Thani provinces, expects revenue in the fourth quarter of 2026 to grow steadily in line with its targets, driven by the year-end tourism high season. Managing Director Ekapong Chokchaiwittat said the Krabi Provincial Office of Tourism and Sports forecasts that more than 5.2 million tourists will visit in 2026, generating more than 100 billion baht in revenue, with at least 20 billion baht expected to circulate during the year-end high season in particular. This will significantly boost sales at each branch in tourism areas. Meanwhile, in late November, airlines from the Scandinavian countries are preparing to launch new direct routes to Krabi: Finnair on the Helsinki-Krabi route and Scandinavian Airlines on the Copenhagen-Krabi route, each operating two flights per week. Ekapong said this will provide additional support to stimulate the local economy and help MOTHER's revenue expand in line with its operational plans.

Analysts expect the retail and wholesale sector to benefit from the government's plan to consider extending the Thai Chai Thai Plus programme by another one to two months. Wilasinee Boonmasoongson, assistant managing director at Global Securities, or GBS, said the stocks expected to gain include Thanapiriya Public Company Limited, or TNP, K&K Superstore Southern Public Company Limited, or KK, and Mother Marketing Public Company Limited, or MOTHER. The research team holds a positive view on TNP, expecting second-half 2026 operating results to grow on from a positive second quarter of 2026, after same-store sales growth, or SSSG, turned back up by 4.9% from still-negative levels in April before starting to recover in May, supported further by the increase in the state welfare card spending limit from June to September. TNP plans to expand to 64 branches, and under its JUMP+ plan aims to open about 30 more branches by the end of 2028, or roughly 10 per year. The research team estimates TNP will post revenue of 3.396 billion baht in 2026, growing about 10% from a year earlier, and net profit of 229 million baht, up about 8% year on year. For the six months of 2026, TNP recorded sales revenue of 1.62397 billion baht, an increase of 158.58 million baht, or 10.82%, from the same period a year earlier, and net profit of 103.59 million baht.

Mother Marketing or MOTHER expects its retail business in Q4 2026 to rebound and be the best-performing quarter of the year, as it coincides with the peak tourism season. Additionally, the tourism stimulus measures under the "Thai Travel Thai Plus" project are expected to boost purchasing power, especially in Krabi province, which is the company's main customer base. The company plans to open one more new branch in Q4, bringing the total to 25 branches by year-end as targeted. It also expects full-year same-store sales growth (SSSG) of approximately 5%. Meanwhile, the company maintains its profit margins by avoiding price wars and is confident that revenue in 2026 will grow at a double-digit rate. In Q1 2026, the company reported a net profit of 12.61 million baht, up 27.76%, and total revenue of 418.73 million baht, up 6.40%.

MOTHER expects its Q3/2026 results to remain stable in line with the tourism season, but Q4/2026 will be the strongest of the year, benefiting from the southern high season. The company is also adjusting its strategy to increase weight on the wholesale segment, following a more than 50% drop in the number of state welfare card holders, and it did not join the Thai Helps Thai Plus program. It maintains its revenue growth target of no less than 10% this year and plans to open its 25th branch in Q4/2026.

Mother Marketing Public Company Limited, or MOTHER, expects second-half performance to keep growing, supported by a bustling high season for southern tourism. It is preparing to open new branches to serve foreign tourists after second-quarter 2026 total revenue reached 361.59 million baht, up 10.42 percent from the same period last year, with net profit of 1.95 million baht. For the first six months, net profit was 14.56 million baht, up 12.25 percent, and total revenue was 780.33 million baht, up 8.22 percent. Same-store sales growth, or SSSG, rose 3.32 percent from 20 existing branches excluding new ones. Krabi province will see more direct flights from Northern Europe and Scandinavia, including Finnair from Finland and Scandinavian Airlines SAS from Denmark, which are preparing to launch direct flights late this year, helping strengthen Krabi's potential as an international tourism hub.