‘Central Plaza Hotel’ Plunges 11% as 450% Profit Growth Falls Short of Expectations

The share price of Central Plaza Hotel Public Company Limited (SET: CENTEL) plunged 11% in the morning session on monday after reporting a disappointing performance in the second-quarter earnings.

CENTEL reported a net profit of 121 million baht in the second quarter, a sharp increase by 450% YoY due to the recovery in Thailand’s tourism and consumption sector from the pandemic.

However, the result in 2Q was 54% lower than estimation for a net profit of 263 million baht, according to Refinitiv consensus.

As of 10:26 BKK time, CENTEL had the worst performance in Thailand’s SET100 Index with a drop of THB5.50 or 11.34% per share to trade at THB43.00 per share.