Kasikorn Securities Research forecasts normalized profit for Zen Corporation Group, or ZEN, in the second quarter of 2026 at 17 million baht, up 58.5 percent from the same period last year and up 7.9 percent from the previous quarter. First-half 2026 normalized profit is expected to grow 39 percent year-on-year, accounting for 54.3 percent of the full-year normalized profit estimate. Meanwhile, same-store sales remain in negative territory, reflecting a gradual recovery in demand. The research team maintains a hold rating and a target price of 5.60 baht for ZEN shares, which trade at a 2026 price-to-earnings ratio of 27.3 times, above the three-year average annual normalized profit growth rate of 20.3 percent, suggesting limited share price upside potential. For MK Restaurant Group, or M, normalized profit in the second quarter of 2026 is forecast at 181 million baht, down 34.3 percent from a year earlier but up 10.9 percent from the prior quarter. Same-store sales have turned negative again due to the impact of government economic stimulus measures. The research team maintains a hold rating and a mid-2027 target price of 19.90 baht.
MK Restaurant Group Public Company LimitedSame-store sales turned negative again due to government stimulus impact, and Q2 profit forecast down 34.3% YoY.