by winston » Wed Jul 11, 2012 4:38 pm
not vested
SA SA INT'L (00178) maintained at Buy with target lowered to $5.5 by Citi
Citigroup said for the first quarter ended June, SA SA INT'L (00178)'s turnover rose 18.5% year-on-year to HK$1.558 billion, and the turnover in Hong Kong and Macau rose 15.1%, with same-store-sales gaining 12.3%, higher than the Bank's estimates of 10%.
Dragged down by the sum of HK$30 million in stock option expense, the new shops to be opened in the Mainland will be slowed down this year.
The Bank maintained the full-year (ended March 2013) same-store-sales growth forecast at 10% for Hong Kong/Macau and 5% for China.
The Bank said SA SA INT'L (00178) outperformed against its peer BONJOUR HOLD (00653), as the former will add 13 sales points this fiscal year as planned, adding up to 100 shops in total.
The Bank lowered the 13-15 earnings forecast by 1.5-3%, with target cut from $5.7 to $5.5, with rating maintained at Buy on positive outlook for growth.
Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"