Soft reminder, the reported eps 2.46 cts has not been diluted by the enlarged share base from the recent bonus issue in Feb21. The adjusted eps should be around 1.64 cts. Good luck.
started 2020, HLG give TP, everytime sure hit... 1.11 is sap sap sui only, slowly collect while no one goreng.. focusp's ck2 still not yet fully utilised.. still a lot space to grow~~
HLIB has set a TP of RM1.39 on 24 Aug 2022. Last quarter FR was good at eps of 3.21 sen .up from 1.73 sen in the previous quarter. Its businesses seems to be on an uptrend after the pandemic ...
Technical tracker - HLIB Retail Research –12 December 2022
FOCUSP: Get ready for a prosperity year ahead
Optical and F&B segments to grow further. Accounting for 83% of the group’s 9M22 revenue, the optical segment is expected to grow in line with new store openings and new corporate clients, evidenced by the burgeoning corporate sales after signed up more corporate clients in early 2022. As the month of Dec marks most of its corporate clients’ FYE, Dec sales from the corporate client segment is expected to be strong as employees rush to utilize their benefits. Separately, FOCUSP has launched 15 optical stores YTD and is targeting 12-15 new stores in FY23. The expansion in the optical business will enable the group to bargain for higher rebates from its key suppliers which are mainly the established foreign brands.
For F&B segment, FOCUSP is in an advance stage of discussion with its airline corporate client, which would bump up the CK2 utilization rate to 80% (from 50%) should the deal materialize. Meanwhile, sales from other corporate clients remain stable.
Brace for a strong 4Q22 earnings. Though management shared that optical sales was relatively soft in Nov due to the lower footfall to malls amid the World Cup and GE15, management believes that the momentum will pick up strongly in Dec-Jan on the back of year-end sales and CNY. In fact, 4Q tends to be FOCUSP’s seasonally stronger quarter due to the recognition of rebates of optical sales. With FOCUSP having more store counts and corporate clients than before, we opine that 4Q22 will deliver a stellar end to FY22.
Main board listing. After meeting the main market listing requirements, FOCUSP has secured SC’s approval to grant its listing to Main market in Nov (proposed in Aug). The move will be another strong catalyst for share price rerating as it allows FOCUSP to gain access to a wider investor base.
Pending breakout. At RM0.82, FOCUSP is trading at an undemanding 7.5x FY23 P/E (48% discount against its 5-year average of 14.7x), which has yet to reflect the positives, in our view. Hence, we reiterate accumulate stance in FOCUSP to ride on the catalysts abovementioned. Technically, FOCUSP is pending for a long-term resistance breakout of RM0.83. A successful breakout above the said hurdle will signal a new up-leg toward RM0.88-0.96-1.05. Cut lost at RM0.70.
Within the F&B segment, Focus Point has 11 Komugi retail stores selling Japanese baked goods and pastries in Malaysia (along with 20 retail stores by franchises in the Philippines and four in Brunei), and a wholesale arm supplying in-house pastry offerings to its corporate customers locally including FamlyMart, Starbucks, Don Don Donki, Aeon Co (M) Bhd and Sushi King. Negotiations to supply to an airline company are underway, Liaw say, adding that the company is looking for big corporate clients to supply pastries to.
"We are committed to grow our wholesale business," Liaw says, explaining that Komugi's wholesale business is bigger than retail in terms of percentage ratio. The food products are prepared at the group's two central kitchens in Kota Damansara.
Plans to tap the fast-moving consumer goods market with the launch of chilled delicacies - starting with frozen macarons to be supplied to supermarkets, hypermarkets and petrol stations - are in progress.
With the acceleration in the group's F&B segment, he expects the division's contribution to group revenue to increase to at least 50% in the next two to three years, from 30% currently.
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Posted by Flyinghorse > 2021-02-16 20:18 | Report Abuse
Finally closed green with up half sen.