On Monday at 10:53 AM (Bangkok time), the share price of Berli Jucker Public Company Limited (SET: BJC) rose by 3.92% or THB 0.60 to THB 15.90, with a trading value of THB 186.87 million.
Finansia Syrus Securities (FSS) expects BJC to deliver a strong normalized profit of THB 1.2 billion for the second quarter of 2026, representing an increase of 7% quarter-on-quarter and 15% year-on-year.
Including a one-time gain from land sales amounting to THB 1.6 billion, the company’s net profit would surge by 168% quarter-on-quarter and 186% year-on-year. This robust performance is primarily attributed to the significant growth in the Packaging segment and the first full-quarter recognition of MM Vietnam, which offset the negative same-store sales growth in Big C.
In light of these developments, Finansia has revised its earnings forecast for 2026-2028 upward by 6%, 12%, and 14%, respectively, reflecting the stronger-than-expected performance of the Packaging business and the incorporation of MM Vietnam’s results in the latter half of 2026.
Finansia now anticipates normalized profit growth of 5% year-on-year for 2026 and an accelerated increase of 9% year-on-year in 2027. Based on this outlook, the brokerage maintains a ‘Buy’ recommendation on BJC, with a target price of THB 19.50 per share.
