not vested
CK Asset Holdings (1113 HK)
2019: Results Slightly Beat Our Expectations
2019 underlying profit of HK$28,729m (+19.0% yoy) was slightly above our expectation.
CKA announced a 2019 full-year dividend of HK$2.10/share, representing a respectable 10.5% yoy increase.
The recent acquisition of UK pub operator Greene King will boost recurrent income this year with a full-year contribution.
A volatile market may bring M&A opportunities for CKA which has a net gearing of 5.7%.
Maintain BUY with a lower target price of HK$52.28.
Source: UOBKH
https://research.uobkayhian.com/content ... 74497118d1