Hot News

《外資精點》巴克萊:周大福受累黃金對沖虧損,同店銷售將續改善 @ 2012-11-30T23: Back Hot News
Keyword:周大福 HK
Concept:周大福黃金對沖
【大行報告】德銀:周大福(1929-HK)前景改善估值不貴,目標價升至13.04元
花旗表示,對周大福(01929.HK)上半年錄得對沖虧損及盈利下跌不感意外,公司估計有關虧損拖累毛利率跌2-3個百分點,與該行預測跌3.44個百分點相符。該行預期周大福上半年純利按年下跌25%至20.2億元,料次季中港地區同店銷售升4%及跌12%,全年本港同店銷售有可能出現6%的負增長,內地則增長7%。
匯豐環球證券指,由於9月份金價大幅上升,而周大福(01929.HK)采取100%黃金對沖策略,其黃金存貨的銷售與對沖合約虧損入賬期存在時差,故預期黃金對沖活動將錄得賬面上虧損,令毛利率跌2%-3%,該行料周大福上半年盈利將下挫30%。
瑞信表示,周大福(01929.HK)中期表現遜於預期,其中批發收入按年跌23%,令其最為意外和失望。公司打算將黃金對沖比率由100%放寬至70%,這將減少監管風險及對沖成本,或可增加其收入的波動性。
高盛表示,周大福(01929.HK)9月底止上半年純利下降32%至18.2億元,低過該行預期的12%,但未計入未變現對沖虧損;該虧損影響毛利率約2.7個百分點,調整後毛利率為29.1%,好過預期。若剔除此影響營業利潤該為33億元,而零售銷售增12%亦符合該行預期;但批發收入則較弱。 雖然過去12個月集團增長令人失望,但該行預期2013年將會復蘇,增長重新加速,市場亦預期向下走勢即將結束。現已...... 請在這里發表您個人看法,發言時請遵守法紀注意文明。

Mobile | Full
Forum rule | About Us | Contact Info | Terms & Conditions | Privacy Statment | Disclaimer | Site Map
Copyright (C) 2025 Suntek Computer Systems Limited. All rights reserved
Disclaimer : In the preparation of this website, 88iv endeavours to offer the most current, correct and clearly expressed information to the public. Nevertheless, inadvertent errors in information and in software may occur. In particular but without limiting anything here, 88iv disclaims any responsibility and accepts no liability (whether in tort, contract or otherwise) for any direct or indirect loss or damage arising from any inaccuracies, omissions or typographical errors that may be contained in this website. 88iv also does not warrant the accuracy, completeness, timeliness or fitness for purpose of the information contained in this website.