SNNP hints at growth in the latter half of this year, benefiting from high season, strong brand, and new products lineup as businesses are expecting to reach its new high in the third quarter.
Wiroj Wachiradechkul, Executive Committee and Senior Executive Vice President Business Division of Srinanaporn Marketing PLC. (SET: SNNP) revealed to “Kaohoon” that the second half of 2024 should see more earnings than the first half, which earned THB 2,970.16 million in total revenue and THB 319.80 million in profit, largely owing to the strength of the main brand, new products scheduled for release both domestically and abroad, and Q4 being a high season.
While “Digital Wallet”, a government plan to encourage consumption and stimulate economic activity, would be beneficial to SNNP in Q4 of 2024 by boosting drink and snack sales, increasing total earnings for this year further, at the same time the company’s long term plan is to expand into foreign market by the way of exporting and joint marketing, along with establishing franchise to support future expansion.
Additionally, Finansia Syrus Securities gave a “BUY” recommendation on SNNP with a target price at THB 17.40 per share. The firm expects Q3/24 profits to reach a new high at THB 169 million, representing a 4% increase from the second quarter. Meanwhile, Q4 is anticipated to be this year’s peak, profiting at THB 175-177 million.
