China Tourism Group Duty Free's Profit Growth to Be Boosted by Airport Duty-Free Business -- Market Talk

Dow Jones04-26

0222 GMT - China Tourism Group Duty Free's 2024 profit growth will likely be supported by the continuous recovery of its airport duty-free business, potential gross margin expansion and optimized revenue-sharing agreements with airports, UOB Kay Hian analysts say in a research note. By the end of 1Q, the company's inventory value declined 33% on year as a result of inventory clearance, they say. They reckon the company's healthier inventories and refocus toward luxury products should further boost its gross profit margin. Meanwhile, management expects the company's airport duty-free business to contribute 50% of revenue when airport traffic normalizes, they add. UOB maintains a buy call on China Tourism Duty Free and keeps its target price unchanged at CNY106.20. Shares were last at CNY73.19. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

April 25, 2024 22:22 ET (02:22 GMT)

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They reckon the company's healthier inventories and refocus toward luxury products should further boost its gross profit margin. Meanwhile, management expects the company's airport duty-free business to contribute 50% of revenue when airport traffic normalizes, they add. UOB maintains a buy call on China Tourism Duty Free and keeps its target price unchanged at CNY106.20. Shares were last at CNY73.19. (sherry.qin@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 25, 2024 22:22 ET (02:22 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China Tourism Group Duty Free's Profit Growth to Be Boosted by Airport Duty-Free Business -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina Tourism Group Duty Free's Profit Growth to Be Boosted by Airport Duty-Free Business -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-26 10:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>0222 GMT - China Tourism Group Duty Free's 2024 profit growth will likely be supported by the continuous recovery of its airport duty-free business, potential gross margin expansion and optimized ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999000475.SGD","symbol_name":"Aberdeen Standard Singapore Equity SGD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2430929934","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2430929934","pubTimestamp":1714098120,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0222 GMT - China Tourism Group Duty Free's 2024 profit growth will likely be supported by the continuous recovery of its airport duty-free business, potential gross margin expansion and optimized revenue-sharing agreements with airports, UOB Kay Hian analysts say in a research note. 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By the end of 1Q, the company's inventory value declined 33% on year as a result of inventory clearance, they say. They reckon the company's healthier inventories and refocus toward luxury products should further boost its gross profit margin. Meanwhile, management expects the company's airport duty-free business to contribute 50% of revenue when airport traffic normalizes, they add. UOB maintains a buy call on China Tourism Duty Free and keeps its target price unchanged at CNY106.20. Shares were last at CNY73.19. 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