MGI remains 95.2% below February 2024 high

Résumé détaillé

Despite the modest daily gain, the latest close stands approximately 95.19 per cent below the THB65.25 closing price recorded on February 27, 2024. It is also 5.99 per cent below…

Miss Grand International’s latest results add a fresh earnings setback to its prolonged share price decline. The company reported a third-quarter loss attributable to shareholders of THB47.64 million, reversing a profit of THB43.17 million a year earlier. Its attributable result for the first nine months swung from a THB136 million profit to a THB41.28 million loss.

The share closed November 10 at THB3.14, up 0.64 per cent for the day, according to Stock Analysis’s historical data supplied by S&P Global Market Intelligence. They traded between THB3.14 and THB3.20, following a session low of THB3.10 on November 9.

Despite the modest daily gain, the latest close stands approximately 95.19 per cent below the THB65.25 closing price recorded on February 27, 2024. It is also 5.99 per cent below the November 5 close of THB3.34 used in the earlier coverage. These comparisons exclude dividends, fees, and warrant entitlements.

The financial picture has also changed since the November 6 article in The World and Vietnam Report, which focused on first-half earnings.

Third-quarter revenue fell 47.7 per cent to THB122.77 million. Nine-month revenue declined 35.45 per cent to THB422.24 million. Pageant revenue was particularly weak, falling 76.71 per cent in the quarter to THB35.85 million.

Management cited reduced sponsorship and commercial pressure. Artist management provided a brighter result, with quarterly revenue rising 24.05 per cent to THB37.03 million.

The balance sheet shows cash and equivalents of THB24.12 million at September 30, down 48.75 per cent from year-end. Total liabilities increased 96.85 per cent to THB449.04 million. Management linked the increase mainly to lease liabilities associated with MGI Hall and described the cash movement as part of normal liquidity management. Total liabilities should not be equated with bank borrowings.

The company’s management summary reports a total quarterly net loss of approximately THB48.10 million.

That differs from the THB47.64…

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