GLOBAL's net profit for the second quarter of 2026 is projected at approximately 650 to 700 million baht, up 35 percent year-on-year but down 13 percent quarter-on-quarter due to seasonal factors. Although same-store sales dipped around 2 percent, the company benefited from six new branches opened over the past 12 months, bringing the total to 100 branches from 94 in the second quarter of 2025. Gross margin is expected to hit a new record above 27.5 percent, up from 20.5 percent in the second quarter of 2025, driven by a higher share of house-brand products, along with better cost control and inventory management efficiency. For the second half of 2026, profit is still expected to grow year-on-year, supported by continued gross margin expansion. The company plans to open five new domestic branches in 2026, renovate eight existing ones, and open three more branches in the second half. Overseas, it currently operates 42 branches and plans to add one in Myanmar and three in Indonesia. Full-year total revenue is expected to grow around 5 percent, with a commitment to keep full-year same-store sales from turning negative and gross margin no lower than 26 percent. On valuation, the current price trades at a price-to-earnings ratio of 18.4 times, above the home improvement retail sector average of 17.1 times. The analyst consensus target price is 8.05 baht.
Siam Global House Public Company LimitedCompany expects Q2/26 profit to grow 35% YoY with record gross margin above 27.5%.