April 27, 2024
Stocks & Bonds
[EQUITIES] ‘Fila Korea keeps setting records’
Fila Korea’s overseas business propelled its fourth-quarter earnings last year, said KB Investment and Securities on Feb. 27 maintaining a “buy” recommendation and 65,000 won (US$58.14) target price.
 |
It continued its record-setting streak from abroad, as its US operation’s operating profit in the period surged 84 percent on-year to 13 billion won. Improved gross profit margin in the US, growing royalty income and sales increase in China have boosted its profits. The firm’s operating profit ratio in the period has topped 15 percent, said analyst Ha Nu-ri.
Western markets will serve as its key growth momentum where it can further promote its brand recognition and prove its competitiveness. Most of the company’s revenue is generated through shoes and it will seek growth by expanding apparel sales and selling strategy, added the analyst.
By Hwang You-mee (glamazon@heraldcorp.com)
