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《大行報告》匯豐研究升六福(00590.HK)目標價至21.9元 港澳業務盈利高於預期
阿思達克 11-30 11:05
匯豐研究發表報告指,預計六福(00590.HK)截至2024年3月底止年度,港澳地區收入將恢復至2019財年的125%。上半年度港澳收入已回復2019年水平的77%,超出預期,主要受惠於同店銷售增長較預期強,而集團亦於香港開設5間新店。由於營運槓桿,地區營運利潤率由上年度的8.7%,強勁復甦至今年上半年度的13.8%。相比之下,內地業務仍然拖累集團增長。 該行將2024財年的收入預測提高11%,港澳地區的營運利潤率上調3.8個百分點至12.9%,預計於2024至26財年,港澳及內地收入複合年增長率分別5%及11%,又將2025及26財年淨利潤預測分別上調7%和6%,收入預測則上調10%及9%。目標價由20.4元上調至21.9元,維持「持有」評級。
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