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September 21, 2018

[EQUITIES] ‘Orion returns to normal in China’

PUBLISHED : May 16, 2018 - 11:32

UPDATED : May 16, 2018 - 11:32

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[THE INVESTOR] Orion has reaped solid earnings in the first quarter above market expectations, said Samsung Securities on May 16, raising the target price to 150,000 won (US$138.98) from 145,000 won.


Boosted by 25 percent hike in confectionery sales in China, its operating profit in the period soared 161.4 percent on-year to 93.6 billion won, said analyst Cho Sang-hun.

Operating profit in Korea jumped 30 percent on-year on the back of strong sales of snacks, and in Vietnam 42 percent, due to expanding sales. In China, its earnings are beginning to return to normal, and it should be noted that revenue has stopped declining for the first time in five quarters. In the second quarter, it will roll out new snacks and secure more revenue. Sales in China will reach 1.14 trillion won this year, the analyst pointed out.

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

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