February 23, 2019

[EQUITIES] ‘Handsome’s subsidiaries gain’

PUBLISHED : August 09, 2018 - 11:03

UPDATED : August 09, 2018 - 11:03

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[THE INVESTOR] Handsome’s profits will be boosted by its subsidiaries, said Mirae Asset Daewoo on Aug. 9, maintaining a “buy” recommendation and raising the target price to 44,000 won (US$39.31) from 43,000 won. 

Its operating profit in the second quarter increased 19.4 percent on-year to 14 billion won while revenue slipped 2.8 percent to 292.3 billion won. 

Investors should pay attention to the fact that profits of its subsidiaries are normalizing fast. Streamlining the range and increasing sales at full prices are leading to earnings improvement. The operating profit of its subsidiaries this year will reach 19.4 billion won, a striking turnaround from last year’s 18.3 billion loss, said analyst Ha Nu-ri.

Its own range Time and System continue to generate solid revenue but reshuffle in imported brands will entail a dip in revenue, but from next year will steadily drive profits, she forecast. 

By Hwang You-mee (

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