《大行报告》花旗:中电(00002.HK)中期盈利胜预期
花旗发表的研究报告指,中电(00002.HK)上半年盈利60.1亿元,较该行预期高7%,主要受惠来自澳洲的经济利润较高带动,而在可持续经营溢利方面则按年增12%至61.29亿元,主要受惠香港、中国、澳洲及东南亚、台湾等贡献较高。而次季公司每股派息0.63元,按年持平。
该行指出公司香港的经营溢利按年增4.6%至37.51亿元,占该行整体经营溢利的56.9%,按年收窄3.4个百分点,相信公司受惠利润管制协议仍能维持回报率。另外上半年来自内地的经营溢利按年升6.7%至12.53亿元,占整体经营溢利的19%,主要受惠防城港煤电厂及太阳能项目的贡献,相关因素抵销了核电贡献较低的影响。
该行认为中电回报率吸引,予「买入」评级,目标价92元。(el/k) ~
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