Thai Big C Supercenter Q1 profit down, below f'cast

BANGKOK, May 14 (Reuters) - Thai hypermarket operator Big C Supercenter PCL BIGC.BK reported a 5.3 percent drop in quarterly net profit on Thursday, mainly because of weaker sales.

Big C, 36-percent-owned by the French Casino Group (CASP.PA), posted a January-March net profit of 726.7 million baht ($21 million), or 0.91 baht per share, down from 767.1 million baht a year earlier, and down from 921 million in the previous quarter.

Two analysts polled by Reuters had forecast an average net profit of 787 million baht for the quarter.

With falling consumer confidence and the economy in recession, Big C's outlook looks vulnerable as fears of job cuts could turn shoppers in the middle-to-lower income brackets cautious, analysts said.

Big C shares rose 8.5 percent in the first quarter, far outperforming a 4.1 percent drop in the main index .SETI. ($1=34.55 Baht) (Reporting by Ploy Chitsomboon; Editing by Alan Raybould)