Giordano management has set its revenue growth target for the year to be flat, and announced a target annual compound growth rate of high single digits to low double digits for the period of 2025 to 2030, with a net income margin of 10%.
According to a research report released by Daiwa Securities, it maintains a "buy" rating for Giordano International (00709) with a target price downgraded from HKD 2.81 to HKD 2.55. The company's revenue and net income in the first half of the year decreased by 3% and 37% year-on-year, respectively, to HKD 1.903 billion and HKD 120 million, accounting for 47% and 33% of the bank's full-year prediction, respectively.
The report stated that Giordano management has set its revenue growth target for the year to be flat, and announced a target annual compound growth rate of high single digits to low double digits for the period of 2025 to 2030, with a net income margin of 10%. In addition, the five-year plan is more clear for Giordano's development, but the bank is still waiting for more positive results from the implementation of measures.