大和:維持統一企業(0220.HK)“優於大市”評級 目標價10港元
大和總研近日與統一企業(0220.HK)高層會面後發表研究報告預測,統一企業將繼續受惠於原材料價格下跌及增值税率下調,預料公司今年下半年的毛利率將會擴闊,而今年派息率可達100%。大和輕微調整統一企業2019-2021年度的每股盈利預測,維持其“優於大市”評級,目標價為10港元。
報告引述統一管理層指,今年天氣不利於即飲茶飲料,公司將繼續透過聯合王者榮耀賽事行銷等市場推廣活動、增加網上銷售及增加在社交媒體曝光來提高茶飲料銷售,管理層對於奶茶和咖啡產品銷情依然樂觀。
另外,今年上半年,集團方便麪錄得收益約43億人民幣;較去年同期上升3%,增長主要來自高端面食,估計期內大眾面食銷售錄得單位數跌幅,主要因為公司去年第四季並無如同業般調低出廠價,管理層強調公司不會參與減價戰,上半年貴价面銷售佔公司整體方便面銷售的30%,比去年的25-26%有所上升。
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