高盛发表研究报告指，康师傅管理层更新全年指引，预计全年销售持平至增长低单位，而原先指引为低至中单位数增长；预计经常性净利润维持双位数增长，而今年上半年升幅为12%。业务而言，管理层预期即食面业务下半年恢复正增长，目标全年亦实现正增长；预期有气饮品将有正增长，而非有气饮品跌幅收窄。成本方面，管理层料棕榈油全年价格有低十位数升幅，但同时塑胶(PET)、糖及面粉成本有中单位跌幅。下半年集团将持续聚焦轻投资及精简行政费用，以提升2026年的经营利润率。 该行预计康师傅2025及26年净利润分别为43亿及46亿元，按年增15%及9%，净利润率改善至5.2%及15.8%；考虑到竞争加剧导致销售管理费用率上升，将2025至27年经常性净利润预测下调4至6%；目标价由14.6港元下调至13.8港元，维持“买入”评级。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.