大行評級|瑞銀:予統一“買入”評級及目標價8.05港元 上半年經常性溢利強勁增長
瑞銀髮表報吿指出,統一企業中國上半年收入增長6%至154.49億元,符合市場預期;純利升10.2%至9.66億元,超過市場預期約7%;經常性溢利增長55.6%超市場預期,受惠於毛利率增長2.7個百分點,主要由於折扣減少、原材料成本下滑及產能利用率提高所致。
此外,統一管理層基於競爭加劇,將公司今年收入增長目標由低雙位數下調至中至高單位數,並預期下半年將投入更多於銷售及行銷費用上,以提高飲料和麪條業務的收入增長。管理層預期,在利用率改善及控制折扣下,公司毛利率將繼續擴大。
該行預期,基於統一上半年經常性溢利強勁增長,料投資者反應正面。該行予統一“買入”評級,目標價為8.05港元。
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