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2009-7-7 02:43:00 p.m. HKT, XFNA
DJ MARKET TALK: Vitasoy's Liquid Financial Position Supportive-TF
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| 1436 [Dow Jones] STOCK CALL: Taifook says Vitasoy (0345.HK) appears to have benefited from last year's melamine scandal in China as total sales +15% to HK$2.8 billion for FY09 on back of spectacular 56% sales growth in China. "Vitasoy remains in a liquid financial position with net cash of HK$431 million at end-FY09, which will continue to support its capacity and sales expansion strategies, which may include M&As." Rates at Buy, target at HK$4.72. Stock down 1.0% at HK$4.16 midday.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
(Delayed by 1 hour)
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