RBF to Return Safe and Sound, Analyst Recommends “BUY” with TP of ฿22.9
DBS Vickers Securities anticipates that RBF's revenue will recover substantially in the second half of this year as the Covid-19 vaccine will be widely distributed and one of its hotels business is sold.
DBS Vickers Securities anticipates that RBF's revenue will recover substantially in the second half of this year as the Covid-19 vaccine will be widely distributed and one of its hotels business is sold.
24 พ.ค. 2564

In 1Q21, R&amp;B Food Supply Public Company Limited (RBF) reported the profit for the period of 75.02 million baht, equaled  to 8.84% of the total revenue from operations, and decreased by 72.32 million baht (YoY -49.08%) compared to 1Q20, which profit for the period was 147.34 million  baht or 18.24% of the total revenue from operations.
 
The decline in net profit was mainly due to a decline in the gross profit margin of seasoning sales and hotel operations, as well as a rise in selling and administrative expenses. It was, in general, a result of the Covid-19 pandemic.
 
However, DBS Vickers Securities (DBSVS) anticipates that RBF’s revenue will recover substantially in the second half of this year as the Covid-19 vaccine will be widely distributed and one of its hotels business is sold.
 
DBSVS decreased RBF’s revenue growth forecast for 2021 to 10%, but increased the growth outlook to 19% in 2022 to accommodate for the potential of the hemp-related industry, which is scheduled to begin operations in early 2022.
 
As a consequence, DBSVS revised up a recommendation from Hold to BUY with a new target price of 22.90 baht per share.  
 