SPALI shares climbed 4.40% to 16.60 baht after Dao Securities Thailand upgraded its recommendation to buy with a target price of 19.00 baht, up from 16.40 baht. The company reported second-quarter 2026 net profit of 1.6 billion baht, up 49% from a year earlier and 310% from the previous quarter, well above the consensus estimate of 782 million baht. Total revenue was 6.9 billion baht, flat from a year earlier but up 83% from the previous quarter. Revenue from ownership transfers came mainly from low-rise projects at 86% and condominiums at 14%. Share of profit from investments rose 99% from a year earlier to 890 million baht, supported by joint-venture projects in Australia with significantly higher transfers. Finance costs fell 22% to 150 million baht thanks to new low-interest debentures. The research team raised its 2026 net profit forecast by 9% to 4.4 billion baht. First-half profit was 2.0 billion baht, representing 47% of the full-year estimate, and the second half is expected to improve as two new condominium projects begin transfers, compared with only one project in the first half. The company announced an interim dividend of 0.55 baht per share, representing a dividend yield of about 3.5%, with the ex-dividend date set for 25 August 2026.
Supalai Public Company LimitedQ2 profit beat and broker upgrade to buy with higher target
