OSK Research maintains Buy on Parkson, TP RM6.64
Written by The Edge FinancialDaily
Tuesday, 16 November 2010 08:33
KUALA LUMPUR: OSK Research is maintaining its Buy call and target price of RM6.64 for PARKSON HOLDINGS BHD [].
Parkson reported a 1QFY11 revenue of RM656.5 million (+2.3% y-o-y) and net profit of RM76.2 million (+17.7% y-o-y). If not for the stronger RM against RMB and VND, net profit would have surged 28.4% y-o-y.
OSK Research said on Tuesday, Nov 16 the robust numbers were attributed to the impressive same store sales growth in all the countries under its umbrella, as well as new openings. Despite the higher expenses incurred for new openings, commission rates, direct sales and EBITDA margins were flat y-o-y.
“As the results were within our forecast, we maintain our FY11 and FY12 earnings estimates at RM373.6m and RM444.3m. Parkson has declared a 10 sen tax exempt dividend per share. Maintain BUY,” it said.
Keep INVESTING Simple and Safe (KISS) ****Investment Philosophy, Strategy and various Valuation Methods**** The same forces that bring risk into investing in the stock market also make possible the large gains many investors enjoy. It’s true that the fluctuations in the market make for losses as well as gains but if you have a proven strategy and stick with it over the long term you will be a winner!****Warren Buffett: Rule No. 1 - Never lose money. Rule No. 2 - Never forget Rule No. 1.
Tuesday, 16 November 2010
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment