Able C & C, the fourth quarter of this year ... hosiljeok achieve earnings outlook - Eastern

[Korea hyerin nine financial newspaper reporter] Dongbu Securities were recorded for the fourth quarter of last year hosiljeok Able C & C 20, evaluated that this year's earnings forecast. This recommendation is made BUY, TP remains 3 million.

Able fourth quarter sales increased 9% YoY 130.8 billion won, operating profit of C & C was decreased by 3% to 12.8 billion won disclosures.

Dongbu Securities Park Hyun-jin researchers' by consensus are worth evaluating as hosiljeok and operating profit exceeded more than 10% ', saying,' eotneunde domestic and Japanese exports led the growth, with most of the channel direct / merchants and online, such as (+) is estimated that showed positive growth, he said.

In addition, he added that 'operating profit improved by increased promotional marketing expenses is difficult, but in the year 2014 operating profit is steadily rising prices.

Until mid-February this year - sales situation is expected yieoganeun the end of last year atmosphere.

Park researchers, including domestic online channel seems to have been in gaining a steady sales volume is lower is offline stores and exports, while reinforcing the hue line while increasing sales volume by adjusting the product price is estimated that broadening the customer contact ' he said.

Also, he 'This year is including promotional expected SG & A expenses will not increase significantly compared to last year is expected to be the margin of the sales growth, said, "Chinese subsidiaries through in the face of recent Chinese to risk operating strategy small and medium-sized firms in cosmetics and should be viewed positively viscosity seen a differentiated performance, 'he said.



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