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野村:升日清食品(1475.HK)目标价至7.5港元 评级“买入”
格隆汇 09-02 16:37

野村发表研究报告,指日清食品(01475.HK)上半年内地销售按当地货币计升12.2%,主因销售增长及即食面持续高端化所带动。香港销售跌4.9%,主因暂停个别品牌分销业务,撇除有关因素,核心业务持平,毛利扩张2.1个百分点,经调整EBITDA升16.1%。

该行预期下半年的收入增长会相若,由新产品和便利店的分销渠通快速发展带动,利润预期会于下半年扩张,同时销售稳定及折旧减少。预期即食面市场於内地会继续改善,日清会继续增加渗透率和受惠于消费升级,上调2019-21年盈利预测14-15%以反映更好的利润预期,目标价由6.4港元升至7.5港元,重申“买入”评级。

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