April 24, 2024

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[THE INVESTOR] Hyundai Livart’s earnings in the second quarter were strong, said Hanwha Investment and Securities on Aug. 21, maintaining a “buy” recommendation and 35,000 won (US$31.30) target price. 

Its operating profit hiked 45.4 percent on-year to 17.1 billion won, beating market expectations, and even when eliminating effects of merging with Hyundai H&S, the figures have grown by 23.8 percent. In addition to the merger, supply of built-in furniture expanded and kitchen furniture sector’s growth picked up while advertising costs declined from the previous quarter, said analyst Nam Seong-hyeon. 

In the third quarter, ad costs will but not as high as the first quarter and being a high season, will not slow down its earnings growth, according to the analyst. 

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