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STOCKS NEWS THAILAND-Oishi plunges 21 pct after Q3 loss
November 9, 2012 / 4:05 AM / 5 years ago

STOCKS NEWS THAILAND-Oishi plunges 21 pct after Q3 loss

Shares in Oishi Group Pcl plunged as much as 21 percent to a three-month low of 160.5 baht after the food and beverage firm reported a third-quarter net loss because of weaker beverage sales in a highly competitive market.

Oishi shares were down 19 percent at 165 baht, while the broader SET index was up 0.17 percent.

The Oishi stock has gained 161 percent so far in 2012, outperforming a 42 percent rise of the food and beverage subindex and a 26 percent gain of the SET index.

Oishi’s results missed forecasts, with broker Phillip Securities projecting a net profit of 226 million baht ($7.36 million) for the quarter. “We are reviewing our full-year forecast and may lead to a price target cut,” said an analyst at Phillip.

1059 (0402 GMT)

For the company statement, click

Reporting by Viparat Jantraprap in Bangkok; Editing by Subhranshu Sahu;

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