Amore Pacific, need to wait and see until the beginning of May - Eastern

[Korea Seo Hye Rin nine financial newspaper reporter] had recommended that while you are watching Dongbu Securities in China to issue up to early May for the 27th Amore Pacific network. The target price was lowered to 32 million yuan, investment opinions were presented maintain.

Bakhyeonjin Institute of the securities firms 'Chinese tourists decreased from April to May is expected to be the peak has passed the first quarter than the upcoming 2Q11 earnings concerns the larger it true, saying,' distribution channels and the transfer margin to mix changes in products since the fall makin can show that the cost of control at home and abroad will be the key to preserving margins 2H17 dont have a low base strain on earnings last year thanks to various one-off costs which have occurred in the last year, "he said.

Looking forward to be central to accelerate further the market for Metz Prestige Brands ASEAN 6 countries in North America is expected to Innisfree and Laneige to drive earnings growth requires a pessimistic view only the coming year earnings outlook, we believe that .

Park researchers "showed that experiencing March visit of Chinese tourists, the number of difficulties in the domestic load within the Duty Free Seoul or some commercial shops operating with plunge seems inevitable to adjust earnings estimates, said first Q1 department stores, door-to-door sales yoy level maintenance and duty-free sales with the highest concern are expected to be reduced by 10% compared to last year, "he said.

In addition, the night Researchers' Back to damage the overall domestic sales channel of Chinese tourists spent absence is difficult to show one quarter of domestic sales and expected to reverse kidney in the low single digits, improved domestic sales to poor distribution channels contributed profit was high profit it explained also expected to be limited.

On the other hand, external to the adverse conditions they were down-17-18 Estimates on the premise that continued through the first half.

Park researchers' hard to find a pretext to get hold of the rebound due to the uncertainty, at least until the beginning of May, said, adding that "prefer to wait and see while in China to keep an eye on issues.



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