GULF-BGRIM Cross an All-Time High Together! Consensus Shows Soaring Profit in 2019!

GULF and BGRIM closed at an all-time high on August 22. Consensus shows that both companies will book higher net profit and revenue in 2019.

The share price of Gulf Energy Development Public Company Limited (GULF) also closed an all-time high at ฿136.50/share, increased ฿3.50/share or 2.63% with a trading value of 3,099 million baht. The highest price of the day was ฿139.00/share and the lowest was ฿131.00/share.

GULF had hiked 10.9% from ฿123.00/share on August 20 after the announcement of its consortium, led by BTS, made the lowest bid for the Operation and Maintenance (O&M) of Intercity Motorway Bang Pa-In – Nakhon Ratchasima (M6) and Bang Yai – Kanchanaburi (M81) with an estimate return payment from the project around 70 billion baht.

According to the consensus, GULF will record a net profit of 4,259 million baht in 2019 from its revenue of 27,577 million baht, increasing 40.6% and 36.3%, respectively.

 

Aside from Gulf, the share price of B.Grimm Power Public Company Limited (BGRIM) closed an all-time high on August 22, 2019, at ฿37.25/share, increased ฿0.50/share or 1.36% with a trading value of 793 million baht. The highest price of the day was ฿37.75/share and the lowest was ฿36.50/share.

BGRIM had hiked 6.5% from ฿34.50/share on August 14 after the news of weight increase in FTSE later last week, giving positive sentiment toward the stock. The company expects continuous growth in 3Q and 4Q earnings.

According to the consensus, BGRIM will record a net profit of 2,860 million baht in 2019 from its revenue of 43,290 million baht, increasing 53.5% and 16.2%, respectively.

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