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摩通:下調莎莎(0178.HK)目標價至1.7港元 評級“中性”
格隆匯 11-22 11:58

摩根大通發表報告指,莎莎國際(00178.HK)2020財年中期錄得虧損3,700萬元,符合其於9月中時公佈的盈警。而集團今年10月1日至11月18日的港澳同店銷售按年錄得39%下跌,較第二財季的下跌29%進一步惡化,相信主因高基數及10月表現疲弱。

派息方面,集團暫停派中期息,摩通預計其在下半財年亦不會派息,並在往後兩個年度恢復派息比率至70%。

摩通下調莎莎目標價,由2.5港元降至1.7港元,維持“中性”評級。報告預期,集團下半財年的收入下降18%,但將轉為盈利,淨利潤率為4.5%,而致力削減成本的效果料會滯後,料在下個財年的業績中才會反映。

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