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[EQUITIES] ‘Fila Korea to remain strong at home’

PUBLISHED : November 15, 2017 - 13:45

UPDATED : November 15, 2017 - 13:45

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[THE INVESTOR] Fila Korea has posted solid earnings in the third quarter and will continue the upturn at home, said Shinhan Investment on Nov. 15, raising the target price to 110,000 won (US$98.59) from 98,000 won.



Its operating profit soared 471.3 percent on-year to 35.6 billion won beating market expectations, and even factoring in the 3 billion won one-off costs that were reflected in the same period last year, the growth is sound, said analyst Park Heui-jin.

Its affiliate Acushnet’s operating profit widely beat analyst estimates and earnings across the company have been strong, noted the analyst. Its operating profit in Korea turned to black and will continue the trend, Park forecast.

Operating profit in the fourth quarter will be 19.9 billion won as against last year’s 22.5 billion won loss, and revenue will hike 37.5 percent to 569.6 billion won, according to the analyst, maintaining a “buy” recommendation. 

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

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