April 26, 2024

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[THE INVESTOR] Maeil Dairies’s second-quarter earnings will be strong, said Hana Financial Investment on June 15, maintaining a “buy” recommendation and 110,000 won (US$100.95) target price. 

Its revenue in the period will come in at 331.5 billion won with operating profit of 19.8 billion won, in line with market expectations, said analyst Shim Eun-ju. 

Formula milk will struggle in the domestic market as expected but exports to China will offset it, surging to 10 billion won, up 3 billion won from a year ago. Ready-to-drink cupped coffee will grow solidly thanks to favorable weather. Sales of higher margin lines including cupped coffee and Sangha organic range remain strong, and will lift the bottom line, she added. 

By Hwang You-mee (glamazon@heraldcorp.com)