On Thursday at 10:32 AM (Bangkok time), the share price of Minor International Public Company Limited (SET: MINT) jumped by 4.24% or THB 1.25 to THB 30.75, with a trading value of THB 254.44 million.
InnovestX Securities forecasted MINT’s normal profit for 2Q24 to reach THB 3.3 billion, reflecting an 8% increase from the same period last year, marking a significant turnaround from the normal loss of THB 352 million reported in 1Q24. The positive performance is attributed to the peak tourism season in Europe and the UEFA Euro 2024 held in Germany from June 14 to July 14, 2024.
The analyst anticipates MINT’s NHH business, the primary operation in Europe, to show a year-on-year RevPar growth of 9% and a quarter-on-quarter surge of 60%. This growth is supported by a 7% year-on-year increase and a 34% quarter-on-quarter rise in ARR, coupled with a robust occupancy rate of 74%.
On the other hand, the Food & Beverage (F&B) business is expected to witness a 3% decline in Same-Store Sales Growth (SSSG) in 2Q24, compared to a dip of 3.4% in the first quarter of the year. This drop is attributed to weaker SSS in China following a high base in 2Q23.
MINT is scheduled to announce its earnings for the second quarter of 2024 on August 14, 2024.
