April 26, 2024
Stocks & Bonds
[EQUITIES] ‘Shinsegae Food turns to black in Q4’
[THE INVESTOR] Shinsegae Food is estimated to have turned to black in the fourth quarter last year with a 7.5 billion won (US$6.33 million) operating profit, said Cape Investment and Securities on Jan. 17.
As its second factory in Eumseong, North Chungcheong Province, normalized its operation ratio and the company closed down underperforming restaurants, the profitability has improved, explained analyst Kim Tae-hyeon.
“Its private brand products are growing fast and national brand sales have also increased thanks to expansion of sales channels. Shinsegae Food will post high growth in food manufacturing,” said the analyst. “Fresh food distribution will also enjoy virtuous cycle effect combined with dining and manufacturing divisions, and will grow further.”
“It will improve its earnings in earnest from now on,” said Kim maintaining a “buy” recommendation and 220,000 won target price.
By Hwang You-mee (glamazon@heraldcorp.com)
As its second factory in Eumseong, North Chungcheong Province, normalized its operation ratio and the company closed down underperforming restaurants, the profitability has improved, explained analyst Kim Tae-hyeon.
“Its private brand products are growing fast and national brand sales have also increased thanks to expansion of sales channels. Shinsegae Food will post high growth in food manufacturing,” said the analyst. “Fresh food distribution will also enjoy virtuous cycle effect combined with dining and manufacturing divisions, and will grow further.”
“It will improve its earnings in earnest from now on,” said Kim maintaining a “buy” recommendation and 220,000 won target price.
By Hwang You-mee (glamazon@heraldcorp.com)
