We Expect 5%-6% Revenue Growth for Want Want in 1H; Shares Are Fairly Valued to Our HKD 6.50 FVE
We expect narrow-moat Want Want’s revenue in the first half of fiscal 2019 will only meet the lower end of management’s guidance (5%-10% year-on-year growth), given the longer-than-expected time for the price hike process and mediocre performance of its newly launched products. Although the modern sales channels saw encouraging improvements, sales from the traditional distribution network remained stagnant. On the profitability front, we believe the company’s gross margin will gradually improve ...Want Want China Holdings is an investment holding company. Through its subsidiaries, Co. is engaged in the manufacturing, distribution and sale of rice crackers, dairy products and beverages, snack foods and other products. Co.'s activities are primarily conducted in the People's Republic of China, Taiwan, Japan, Singapore and Hong Kong. Co. produces and markets its products under the Want Want brand. As of Dec 31 2014, Co.'s operations are mainly organized into four business segments, including manufacturing and sale of: rice crackers, dairy products and beverages, snack foods and other products.
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