Shares in Thailand's top listed hotel and fast-food
operator, Minor International Pcl, gained 1.04 percent
to 19.50 baht, on a better-than-expected third-quarter earnings,
while brokers remained positive about hotel outlook.
The company reported a strong third-quarter net profit of
585.4 million baht ($19.11 million) on Monday.
For the company statement, click
CIMB Securities maintained an 'outperform' rating on the
shares with target price at 24 baht.
"Minor's third-quarter results beat our forecast by 27
percent and consensus by 26 percent. Hotel performance was
strong, as expected, while good cost control and lower tax rates
helped boost the bottomline," CIMB said in a note.
"The outlook remains bright on the back of strong tourist
arrivals and higher income," the broker added.
Several brokers said they expected Minor to see stronger
earnings momentum well into the fourth-quarter as Thailand
enters high season for tourism.
"The positive sentiment from the high season for tourism in
the fourth quarter will lend benefits to the hotel business with
high margin and a higher occupancy rate," said broker Asia Plus
1051 (0351 GMT)
(Reporting by Sinsiri Tiwutanond in Bangkok; Editing by G.Ram
($1 = 30.64 Baht)