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2009-5-26 07:55:00 a.m. HKT, XFNA
DJ MARKET TALK: Tingyi's Record 1Q Profit Likely To Boost Shares
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| 0739 [Dow Jones] Tingyi (0322.HK) set to rise, 52-week high of HK$11.92 hit yesterday likely retested, on record-breaking 1Q earnings; net profit +42.5% at US$92.8 million, marking 29% of full-year earnings forecast of US$320.4 million pegged by Thomson Reuters, driven by higher sales, lower costs, shrugging off economic slowdown, as instant noodles, beverages "are daily necessities," according to Chairman Wei Ing-chou. Stock ends down 0.3% to HK$11.56 yesterday, trades at 24.8X FY09, 21.2X FY10 consensus EPS; while some may argue most of positives being priced in, this likely justified by company's still high growth rate, solid track record.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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