TVO Edges 3.5% Higher in Response to Robust 1Q Result, Analyst Recomm. “BUY”
The share price of Thai Vegetable Oil Public Company Limited (TVO) rose ฿1.25/share or 3.50% to ฿37.00/share.
The share price of Thai Vegetable Oil Public Company Limited (TVO) rose ฿1.25/share or 3.50% to ฿37.00/share.
17 พ.ค. 2564

The share price of Thai Vegetable Oil Public Company Limited (TVO) rose ฿1.25/share or 3.50% to ฿37.00/share, with a trading value of 845 million baht.
  
TVO’s price continued to rise after the company announced healthy results for quarter 1/2021. TVO had a net profit of 882 million baht, increased by 388 million baht or up by 78.54% from 494 million baht when compared to the same period last year. 
Meanwhile, total sales revenue was 7,729 million baht, increased by 1,153 million baht or up by 17.53% from 6,576 million baht when compared to the first quarter of 2020. The revenue from sales of products was 7,661 million baht, increased by 1,172 million baht or up by 18.06% from 6,489 million baht when compared to the first quarter 2020, and the revenue from sales of packaging materials was 67 million baht, decreased by 20 million baht or down by 22.99% from 87 million baht when compared to the first quarter of 2020.
 
Finansia Syrus Securities (FSS) said the TVO’s operating results were better than expected Earnings forecasts for 2Q21 are projected to deteriorate as costs begin to increase. Meanwhile, net income is expected to increase 41% year over year in 2021, but due to the uncertainty of soybean prices, a commodity, FSS has lowered its target price to 38 baht (Rerate PE) with a “BUY” recommendation