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野村:萬洲(0288.HK)中國包裝肉業務增長強勁 重申買入評級
格隆匯 04-29 17:38

野村發表研究報告指,萬洲國際(0288.HK)今年強勁的首季業績大致符合預期,經營利潤按年增長61%至5.5億美元。該行維持其買入投資評級,目標價11.4港元不變。

野村表示,萬洲受包裝肉業務按年升31%,中國的經營利潤錄得強勁21%增長。該行又指,雖然新冠肺炎疫情使生產及物流中斷,令銷量下跌7.5%,但受惠去年20%的價格上調及混合產品升級,每單位的盈利能力達到歷史新高。

另外,野村指,雖然疫情使美國的業務在第二季受影響,但中國包裝肉業務的強勁增長能緩衝美國的業務影響。為了反映疫情對美國的業務影響,該行輕微下調萬洲2020財年盈利1%。

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