WH Group 0288

Re: WH Group 0288

Postby winston » Thu Aug 13, 2015 7:03 am

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Pork profit slides as Chinese market cools

WH Group (0288), the world's largest pork producer, saw interim net profit plunge 43 percent to US$303 million (HK$2.36 billion) from a year earlier due to the slowdown in China's consumer market and fall in US pork prices.

Revenue in the first six months of the year slid 3.2 percent to US$10.21 billion, with turnover from China operations declining 11 percent to US$1.77 billion. Its US operations eased 0.7 percent to US$3.26 billion.

Earnings per share tumbled 55 percent to 2.12 US cents and no interim dividend was proposed.

Chairman and chief executive Wan Long said the average price of pork in the mainland rose rapidly in the first half, but fell to 15.4 yuan per kilogram recently and is expected to decline further in the second half.

More US pork would be exported to China because of its lower costs, Wan added.

He said the depreciation of the yuan would not affect too much of the company's business, as most of its deals were settled in the US.

The company also plans to pay a US$800 million to US$900 million debt this year.

Source: The Standard HK
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Re: WH Group 0288

Postby winston » Thu Nov 05, 2015 9:18 am

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Oct 29, 2015

Shuanghui Group Jan-Sep Net Profit Down 2.9% YoY

WH GROUP (00288.HK) announced that its wholly-owned subsidiary Shuanghui Group released its quarterly financial statements for the nine months ended 30 September 2015.

During the period, its operating revenue declined 2.9% yearly to RMB32.33 billion.

Its net profit dropped 3% to RMB3.235 billion.

The net profit attributable to owners of Shuanghui Group was RMB1.855 billion, down roughly 2.9%.

Source: AAStocks Financial News
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Re: WH Group 0288

Postby winston » Thu Nov 05, 2015 9:20 am

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Oct 29, 2015

WH GROUP Subsidiary Smithfield Foods Jan-Sep Net Income Dives 29%

WH GROUP (00288.HK) announced that its subsidiary Smithfield Foods, Inc. produced 11.5 million hogs in the U.S. for the nine months ended 27 September 2015, representing an increase of 6% from the comparable period in 2014.

Hogs processed in the U.S. amounted to 22.2 million heads, representing an increase of 12% from the comparable period of 2014.

Packaged meat sales volume in the U.S. increased 6% to 0.94 million metric tons as compared to the comparable period for 2014.

In accordance with accounting principles generally accepted in the U.S, sales decreased 4% over the prior year to US$10.509 billion.

Gross profit dropped 8% year-on-year to US$1.21 billion.

Net income decreased 29% yearly to US$285 million.

Source: AAStocks Financial News
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Re: WH Group 0288

Postby winston » Thu Nov 05, 2015 9:21 am

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Oct 26, 2015

<Research Report>BofAML Trims WH GROUP (00288.HK) Target to $6; Kept Buy

BofAML said that WH GROUP (00288.HK)'s volume recovery of China's packaged meats could be slower than expected.

The research house is also more cautious about Smithfield's margins as a result of falling hog prices in the U.S.

Therefore, 2015-2016 EPS forecast was lowered by 5%/4%.

The rating was maintained at Buy, while the target price was cut by 8% to $6.

Source: AAStocks Financial News
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Re: WH Group 0288

Postby winston » Thu Nov 05, 2015 9:23 am

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Aug 17, 2015

<Research Report>UBS Maintains WH GROUP(00288.HK) at Buy with Target Lifted to $7.2

UBS, in its report, stated that WH GROUP(00288.HK) could benefit from the price difference of hog prices between the U.S and China.

The company suggests 150-200k tonnes pork import for this year which could contribute US$78 million net profit to the group, offsetting the margin squeeze from 25% rise in China's meat profit in 1H15.

The research house increased the profit forecast for packaged meat to reflect benefits derived from lower U.S pork price.

The rating of WH GROUP was maintained at Buy, while the target price was revised up from $6.85 to $7.2.

Source: AAStocks Financial News
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Re: WH Group 0288

Postby winston » Thu Dec 03, 2015 9:55 am

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Nov 26, 2015

<Research Report>UBS Maintains WH GROUP(00288.HK) at Buy with Target Cut to $6.05

In UBS' research report, WH GROUP(00288.HK)'s 2016-2017 earnings forecast was trimmed by 12% and 16%, mainly due to higher selling and distribution expenses.

The rating was maintained at Buy and the target price was revised down to $6.05 from $7.2, implying a 15x 2016 PER.

Source: AAStocks Financial News
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Re: WH Group 0288

Postby winston » Wed Mar 30, 2016 9:56 am

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<Result Ann>WH GROUP (00288.HK) FY Net Profit Up 2.6% to US$786M; Final Div $0.125

WH GROUP (00288.HK) announced the results for 2015.

The net profit rose 2.61% yearly to US$786 million.

The EPS equaled US5.75 cents; a final dividend of HK$0.125 was declared.

Meanwhile, the turnover fell 4.65% yearly to US$21.209 billion.~

Source: AAStocks Financial News
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Re: WH Group 0288

Postby winston » Tue Apr 05, 2016 10:30 am

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<Research Report>C Suisse Raises WH GROUP (00288.HK) Target to $7; Rated Outperform

Credit Suisse, in its report, stated that WH GROUP (00288.HK) recorded a 4.7% drop in the revenue last year but only a 2.9% decline in the core earnings; earnings topped market estimates by about 10%.

It projected the business performance of the group for the first quarter to become the catalyst for its share price.

The research house maintained the company at Outperform with target price raised to $7 from $6.1. It also lifted the EPS forecast by 2%-4%.

Source: AAStocks Financial News
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Re: WH Group 0288

Postby winston » Tue Apr 05, 2016 10:31 am

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Apr 1, 2016

WH GROUP Continues Over 7% Higher; Several Brokers Raise Its TP after Results

WH GROUP (00288.HK) escalated 9.3% to the peak of HK$5.65 this morning, hitting 9-month high. It last traded at HK$5.55, further rising 7.4%, on surging volume to 40.24 million shares.

The company reported a 2.6% year on year rise in 2015 net profit to US$786 million, with EPS of US5.75 cents. Final dividend equaled HK12.5 cents.

Goldman Sachs raised the target price to HK$6.5 and maintained the rating at Conviction Buy.

Citigroup and Credit Suisse also raised WH GROUP's target price after results to HK$6.46 and HK$7 respectively, with a rating of Buy and Outperform.

Source: AAStocks Financial News
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Re: WH Group 0288

Postby winston » Mon Aug 22, 2016 9:35 am

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<Result Ann>WH GROUP Interim Net Profit Soars 81.85%; Interim Div HK$0.05

WH GROUP (00288.HK) announced that for the interim period as of the end of June, net profit soared 81.85% yearly to US$551 million.

EPS equaled US4.03 cents; an interim dividend of HK$0.05 was declared.

Source: AAStocks Financial News
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