报告引述统一管理层指，今年10月营收增长将进一步加速，主要归功于面类板块。该行则认为，鉴于同业康师傅控股(00322)旗下面类及饮料板块的价格上涨，统一将会进一步减少对经销商的销售折扣。Net profit for the first nine months of the unified year rose 11.4% year on year, slightly lower than the market's general expectation of a 13% year-on-year increase, but still better than the forecast.
The Zhitong Finance App learned that UBS released a research report stating that it will raise the net profit forecast of Unified Enterprise China (00220) for the 2024-2026 fiscal year by 10% to 13%, while also raising its target price from HK$8.05 to HK$9.14, reaffirming the “buy” rating. The company's net profit for the first nine months of this year rose 11.4% year on year, slightly lower than the market's general expectation of a 13% year-on-year increase, but it is still better than the forecast.
The bank believes that unifying its categories and continuous mergers in the beverage sector will moderately improve its R&D cost efficiency. The bank expects profit growth in the fourth quarter to be mainly driven by revenue growth. As the tax benefits brought about by earlier losses in the beverage sector gradually disappear, its effective tax rate is likely to rise slightly.
The report quoted unified management as saying that revenue growth will further accelerate in October this year, mainly due to the noodle sector. The bank, on the other hand, believes that in view of price increases in the category and beverage sector of Tongye Master Kong Holdings (00322), unification will further reduce sales discounts to dealers.
