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PWROOT - 中期前景乐观

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Publish date: Thu, 06 Sep 2018, 09:50 AM
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PWROOT - 中期前景乐观

 


在销售组合合理化和广告与促销(A&P)支出收紧的情况下,尽管销售额下降,该集团似乎准备从国内更高的盈利能力中获益,预计销售税将转嫁给消费者。另一方面,鉴于中东和北非市场萎缩,出口平稳可能被视为积极因素。

国内销售下降但回报更高。在最近的第一季度的报告中,本地销售额下降至3,820万令吉(同比下跌34%)。虽然这可能是由于2018年4月价格上涨之前的第4季度前期装载,但也可能是因为实施了更严格的销售程序。后者旨在确保对保证金的保护,这转化为某些经销商的销售订单履行较低。在此期间,营销活动削减和促销支出收紧,营运费用也较低,这也是集团重组活动的一部分。

2019年1季度的出口销售额为5110万令吉,占集团销售额的55%。鉴于较低的平均外汇汇率,认为这可能有利,因为它可能受到更高交易量的支撑。此外,由于年中季节性和地缘政治因素支出较差,该公司曾表示中东和北非市场规模下滑,平淡的销售,但该公司能够在不利条件下扩大其市场份额。

展望未来,虽然该公司正在削减营销支出,将继续实施选择性战略,以吸引其关键产品(即产品重新包装,引入新变种),从而加强本地需求。然而,随着SST的实施,预计将新的税收负担传递给消费者,这可能会削弱集团的销售势头。咖啡的指示性税率为5%,能量饮料的税率为10%。

尽管如此,与2018年相比,从相对较轻的生产成本中恢复的更高利润率可以支持更好的对冲策略,以及整体缓解商品趋势。此外,该集也正在实施进一步的结构改进,以优化运营支出和减少浪费。

最近的业绩似乎表明了该公司正在积极恢复,以抵御挑战性的本地和外国的逆风。除了在不利的经营环境下扭亏为盈,该公司提供稳健的股息收益率。

 

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https://fatta888.blogspot.com/2018/09/pwroot.html

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