The share price of The Erawan Group Public Company Limited (SET: ERW) plunged 4.22% to THB3.18 per share despite strong performance from its 2024 earnings as the broad market in Thailand experienced a 1.47% drop at the closing of the morning session.
The SET100 Index, an index that includes the top 100 highest market cap in the Thai stock market, also saw a 1.5% drop with only six stocks out of 100 remaining in the positive territory, including PTT, COM7 and AOT.
The Erawan Group delivered a robust Q4 2024 net profit of 378 million baht, marking a 77% year-on-year (y-y) and 203% quarter-on-quarter (q-q) increase. This result beat market expectations by approximately 10%, driven by stronger-than-expected revenue and margins, according…
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