Shinsegae, duty-free future core performance parameters - Shinhan Investment Corp.

[Korea goyounghun financial newspaper reporter] Shinhan Investment has said 19 days is a key variable for future duty-free performance in the New World had raised the target price to BUY to 245,000 won.

1Q11 consolidated operating profit of 68.3 billion won, Shinsegae is expected to rise 9.9% YoY. Total revenue is expected to open in May and December, a duty-free earnings increased 27.9% to open a performance that reflects Daegu last year. Separate criteria Total sales grew 12.2%.

Park Huijin Shinhan Investment Research to "daily average turnover of quarterly average duty-free sector is estimated at about 3 billion won," said "Jan 24 billion, two had achieved a daily average turnover of the month 3.8 billion won, Mar 30 billion in February compared to March the average daily sales decline was due to a diagnosis of a full-fledged political issue since the middle of March. "

Park researchers explained, "Duty-related noise surfaced as a political issue has spread since mid-March," and "April, average daily sales of duty-free sector operating deficit in 2016 to 2.0 billion mid-to-late the level of duty-free sector is about 55.8 billion won." .

Following estimation of the duty-free benefits at the present time was unlikely.

He added, "At this point, duty-free profits is difficult to estimate because of external factors," he said, "but volatility is left open for the future requires a confirmed trend variables".

Also it considered a "good earnings in the operating profit of the duty-free sector and the possibility of improving connections Shinsegae International corporate profits, the department store sector is positive."



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