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《大行报告》摩通:友邦(01299.HK)去年业绩略胜预期 但关注未有披露今年首两月销售
阿思达克 03-14 14:20
摩通发表报告指出,友邦(01299.HK)去年业绩略胜预期,新业务价值40.3亿美元,按实质汇率计按年增长30%,高过该行预期的39.5亿美元;每股末期息按年增长119.07港仙,略高过该行预期的119港仙;税后营运溢利62亿美元,按实质汇率计按年跌3%。 然而,该行关注友邦并未有披露今年首两个月的销售数据,由于内地宏观经济仍然波动,有关数据或是一个关键问题。集团亦未有单独披露其印度合资企业的新业务价值。随著现有回购的持续,集团未有更新新一轮回购计划指引/前景。 由于市场对友邦今年新业务价值的预测仅按年增长15%至46亿美元,该行料随著友邦中国去年下半年的员工人数增加和产品毛利提高,市场对其新业务价值预测有上调空间。虽然经济差异较大,但集团内涵价值仍稳定。此外,友邦去年自由盈余达160亿美元,产生的基本自由盈余为60亿美元,意味著总股东回报还有进一步上升空间,维持对其「增持」评级,目标价92元。
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