Chaiyapat Paitoon, the company's vice-president for strategic planning, said investor confidence and business sentiment would clearly bounce back the rest of the year, and people would spend more money.
Its first-half revenue grew by 10% year-on-year to
The company forecasts people's purchasing power may slightly increase in the third quarter and will clearly recover in the last three months.
Mr Chaiyapat is confident if the interim government can successfully form in the next couple of months and implement the economic policy set forth by the
Minor achieved second-quarter revenue of
The rise was driven mainly by the strong performance of hospitality and fast-food restaurants as well as a gain from the value adjustment of its investment in
For the six-month period, net profit rose by 10.9% year-on-year to
Mr Chaiyapat said the strong financial results demonstrate the success of business diversification, particularly international food and hotel expansion.
The healthy performance from international operations mitigated the impact of falling tourist arrivals and weak domestic consumption in
Minor's net profit from its hotel business skyrocketed 134% in the second quarter and 18% in the first half thanks to the strong performance of hotels abroad and hotels upcountry, which offset the declining performance of properties in
Excluding the one-time gain from its value adjustment of investment in Serendib, the company's quarterly net profit rose by 28% year-on-year.
Minor reported that revenue per available room (RevPar) for all hotels rose by 9% in the first half. Excluding hotels in
For its restaurant business, the company said net profit increased by 23% in the second quarter and 4% in the first half. Total quarterly sales grew 12%. Fashion and lifestyle product trading grew by 5% in the second quarter and 4% in the first half.
MINT shares closed yesterday on the SET at
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