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《大行報告》野村引述恆安(01044.HK)指受疫情影響少 料今年銷售錄中至高單位數字增長
阿思達克 04-03 14:27
野村發表研究報告,當中引述恆安國際(01044.HK)管理層指,預期新冠病毒所帶來的影響有限,3月份的銷售有所復甦,而其目標是2020財年銷售增長達中至高單位數,並會在推廣開支上有更好的控制。維持公司「中性」投資評級及目標價63.2元。

管理層指出,在疫情爆發期間,濕紙巾及成人尿布的銷售表現良好。今年來濕紙巾佔衛生紙總銷量約10%,有別於2019財年佔5.3%;而成人尿布則繼續錄得雙位數強勁增長勢頭,現時佔整體尿布銷量約20%,較2019財年15%佔比有所提升。

另外,管理層預期2020財年的衛生紙業務將會有雙位數增長,毛利率將會繼續受惠於紙漿價格低。衛生巾業務的銷售則料最少有低單位數增長,達到符合行業平均水平。尿布業務則料有望在2020財年實現正增長。

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