Finansia Syrus Securities (FSS) projects a positive trajectory for Berli Jucker Public Company Limited (SET: BJC) as same-store sales growth (SSSG) rebounded to 4-5% in September, while envisaging a potential 6% decrease in normal profits for 2024 compared to the previous year. The key drivers for BJC include the introduction of new product lines, consistent low material costs, and emphasis on the sales of fresh items and private labels.
The analyst anticipates a 16% surge in BJC’s normal profits for 2025 compared to the previous year, attributing it to increased sales volumes, improved profit margins, and the expectation of interest rates and tax costs to normalize. Furthermore, BJC’s profits for 2025-26 are projected to grow at an average Compound Annual Growth Rate (CAGR) of 11%.
FSS gives a ‘BUY’ recommendation for BJC, with a target price for 2025 of THB 31 per share.
