November 5, 2012 / 7:56 AM / in 5 years

STOCKS NEWS THAILAND-Central Plaza hits record high on hopes of robust Q3 earnings

Shares in Central Plaza Hotel Pcl jumped 4.4 percent to their all-time highs on expectations the hotelier would report robust third-quarter earnings, boosted by strong growth of its food and hotel businesses.

Central Plaza shares were at 21.30 baht, rising 113 percent so far this year, well above a 27.6 percent gain of the benchmark SET index.

About 6.1 million Central Plaza shares changed hands, 2.1 times the average full-day volume over the past 30 sessions.

Broker DBS Securities forecast a third-quarter net profit of 106 million baht ($3.45 million), three times higher than the same period last year.

“The hotel earnings should further expand in the fourth quarter due to a travelling season and because of the low earnings base of last year hit by the country’s flooding,” it said in a research note.

1434 (0734 GMT)

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

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