บทวิเคราะห์ (Research)

Core profit jumped 55% yoy to Bt1.3b in 2Q24, taking 1H24 profit to 48% of our FY24F number. This was driven by stronger contribution from IE unit, maiden equity income and management fees from GCL, and revenue from green logistics. 3Q24 profit would be dictated by transfer income; we expect strong land sales (including a big-lot), which could prompt WHA to raise its target land sales. Maintain BUY rating.