JPARK Rises 3% as Brokers Upgrade Earnings Outlook to THB70 Million

Jenkongklai Public Company Limited (mai: JPARK) closed at THB 7.00 on Thursday, increased 2.94%, or THB 0.20, with a trading value of THB 43.6 million.

Finansia Syrus Securities stated that it had adjusted JPARK’s expected profit in 2023 to THB 70 million (from THB 64 million), THB 102 million in 2024, and THB 135 million in 2025, in which the revenue in 2023 rose by 32.3% from the recognized revenue and profit from the parking project at Golden Jubilee Medical Center with 14.9% EIRR. This added to JPARK’s valuation by around THB 0.79. The analyst gave a “BUY” recommendation at a price of THB 7.20 per share.

Meanwhile, for the company’s 4Q23 business performance, the executives aimed to increase more parking slots by around 2,000-3,000, as from last year, the company had already acquired the parking project at Siriraj Hospital in an amount of 1,014 slots. This will support more parking slots from the current 28,000-30,000 slots, which produced the revenue as the company expected of around 15-20% growth from THB 455 million in revenue last year. The company expected the growth in 2024 to grow by 25-30%.