2023-05-28 15:00:24
Stock dimensions – ITC Broker expects strong Q2 profit, launches new products Hope sales target in China revives, boosting revenue for the year, reaching 25 billion baht. Strong margin hits the target of 36 baht / share.
ITC by Asia Plus Securities stated that Q2/2023 normalized profit will recover QoQ (but decrease YoY) from the trend of customer orders and gross margin recovering, the share price has corrected more than 10% since the beginning of 2023 until Currently, net profit is expected in 2023 to reach 4,488 million baht, growing 2% yoy from food sales volume trends. And pet snacks continue to grow, with a PER of 2013 at 18 times. Recommend “buy” with a target of 36 baht.
“Expected revenue in 2023 to reach 2.5 billion baht.
After the price increase – release new products
Meanwhile, ITC executives set a 2023 total revenue target to grow 15-17% yoy to 25 billion baht, following the tendency to increase the average selling price by 5% yoy and increase sales volume by 10% yoy. from the production of new products such as pet food and pet treats containing collagen and gelatin, etc. ITC sets a 2023 gross margin target of 25%, stable from last year.
“Aim for a margin of 25%.
expect sales in China to soar.”
Pichitchai Wongpiya, Chief Executive Officer, revealed that in 2023, the company set a revenue growth target of 15% from the previous year with revenue of 21,420 million baht and expected a gross profit margin of approximately 25%. During the 3 years (year 66-68) an average of 38.5% per year or growing almost 2 times faster than the market
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