Singer Thailand Public Company LimitedSINGER
▲ PositiveCapitalrelevance
Q2 earnings surged 1,095.3% YoY and broker raised target to 14 baht with buy rating.
Impact on stocks 1
Consumer Discretionary
Singer Thailand Public Company LimitedPhillip Securities noted that SINGER reported second quarter 2569 earnings of 149 million baht, up 1,095.3% from a year earlier and 4.1% from the previous quarter, driven by sharply higher sales revenue and interest income, while provisioning declined. Total loans grew 1.7% from the previous quarter and returned to growth of 1.5% from the end of 2568, with locked phone loans continuing to expand and rising to 59.7% of total loans, lifting loan yields and interest spreads. NPLs fell to 13% from 14.1%. The broker raised its 2569 profit forecast to 579 million baht on lower than expected provisioning and switched to a 2570 target price of 14 baht, maintaining a buy recommendation.
Singer Thailand Public Company LimitedQ2 earnings surged 1,095.3% YoY and broker raised target to 14 baht with buy rating.