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野村:升六福集團(0590.HK)目標價至20.9港元 評級“中性”
格隆匯 11-29 10:51

野村發表報告表示,六福集團(00590.HK)上半財年收入按年跌19.8%,且港澳、內地同店銷售分別下跌25%及16%,期內純利按年跌25.4%;至於10至11月最新銷售顯示,香港業務未見起色,澳門則受黃金銷售帶動有改善,內地業務跌幅收窄。

該行認為,由於六福於香港的業務比重較高(佔整體銷售58%,而周大福(01929.HK)整體收益會持續有較大影響。期內六福毛利率按年增加6.2個百分點至29.9%,主因金價上升及珠寶產品比例上升所帶動。

野村輕微上調其2021財年盈利預測3%,以反映毛利率改善的因素;目標價相應由20.2元升至20.9元,維持“中性”評級。

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