China foods(00506.HK)-More upside potential in 2009

报告名称：China foods(00506.HK)-More upside potential in 2009
研究员：王晓涤,孙娜
报告类型：港股研究*公司报告
报告日期：20090416

行业/子行业：
公司名称及代码：中国食品(00506)
投资建议：

【内容摘要】

China foods announced 2008 annual results, sales up 46% YoY to HK$14.2Bn. Excluding interests from selling Coco Cola bottling business in 2007, profits attributable to stockholders increased by 34% YoY to HK$483Mn. EPS is HK$0.17per share, which is 6% higher than our previous estimate of HK$0.16 per share. We are positive about company's net profit growth in 2009 as its small package edible oil starts to turn profitable. We estimate that EPS for 2009-2011 is HK$0.24, 0.27, 0.33 respectively. We raise our TP to HK$4.1, reiterate buy.

【摘要结束】