วันพุธที่ 17 ตุลาคม พ.ศ. 2550

it city

no.1 it chain store in Thailand
year 2544 2545 2546 2547 2548 2549 2550
store 7 9 17 21 23 30

new store plan
year 2007 2008 2009 2010 2011
it city 5 3 3 3 3
it express 0 1 4 7 10

it city capex 8 mil B
it express capex 3 mil B

seasonal effect H2 better than H1 expect to turnaround in H2/07 but 2009 is the first year to pay 30% effective tax rate

new store plan to postpone from 5 store in 2007 to 1 store

dividend 2007 expect to 0.34 baht/share
share price 6.25 baht/share
dividend yield 5.48%
growth rate 15% annual compound rate for next 5 years
P/E 12.8 P/BV 2.25

BUY

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