Thai Coconut Public Company Limited, or COCOCO, reported second-quarter core profit for fiscal year 2025 of 130 million baht, up 81.5% from the same period last year and up 50.6% from the previous quarter. Net profit came in at 122 million baht, a 58.3% increase year-on-year. Total revenue was 1.727 billion baht, down slightly by 3.5% from a year earlier but up 16.1% quarter-on-quarter, driven by seasonal factors and growing orders from the United States and Europe, which offset a slowdown from China. Gross profit margin improved to 24.1% from 17.1% in the second quarter of fiscal year 2024, helped by lower coconut costs, with the average price this quarter at 794 baht per hundred fruits, down 60.3% year-on-year. Analysts at Yuanta Securities expect core profit in the third quarter of fiscal year 2025 to be in the range of 140 to 160 million baht, continuing to grow thanks to summer and heatwaves in several regions, as well as the start of revenue recognition from new US customers for pet food products. They forecast full-year core profit for fiscal year 2025 at 544 million baht, a 130.4% jump from the previous year, and maintain a buy recommendation with a year-end 2026 target price of 8.00 baht.
Thai Coconut Public Company LimitedCore profit surged 81.5% YoY with improved margins and broker maintains buy with target price.
