JMT Drops 4% over Weak Performance Outlook in 4Q22, Bualuang Maintains Positive View

The share price of JMT Network Services Public Company Limited (SET: JMT) fell THB2.25 or 4.05% to THB53.25 per share in the morning session on Monday.

The price had been declining in recent weeks with a nine-day losing streak from January 16 – 26 before ending the streak with a 3.26% gain on Friday, January 27. JMT lost 22.66% during that stretch.


Bualuang Securities (BLS) stated last week that the decline could be due to the market anticipation for JMT’s 4Q22 earnings to be lower than expected at 714 million baht, pressured by lower debt collection and possibility for higher costs during its peak season.

The analyst expected pressure to continue for the time being even with a 70 billion baht of debt purchase by JKAMC, a joint venture of the company and Kasikornbank, which was higher than previously estimated of 50 billion baht.

Nevertheless, BLS maintained “BUY” recommendation on JMT, expecting net profit growth in 2023-24 to be around 35%.