SINGER Gains 5%, Analyst Expects 2Q Profit to Reach New Record on Growing Product Sales

The share price of Singer Thailand Public Company Limited (SINGER) rose ฿2.25/share or 5.11% to ฿46.25/share as of 15:32 local time in Thailand, with a trading value of 285 million baht. 

Maybank Kim Eng Securities (MBKET) expects SINGER’s 2Q21 profit to hit a new record of 180 million baht, (+30%QoQ, +60%YoY), due to product sales still growing at 20% YoY and strategy to focus on more online channels, as well as the growth of HP-C4C loans. Asset quality remains strong as the economy in the provinces is less affected than in the cities. Thus, MBKET has given a strategic target price of 50 baht.