Maybank Investment Bank Research maintained a 'buy' call on OldTown Bhd with an unchanged target price of RM2.40, backed by the extension of its outlets in Indonesia and Australia.
It said OldTown had also identified two new markets namely, the 'halal' and kids-family to drive the cafe-chain operator's growth.
"On food and beverage operations, we expect topline growth to be supported by ongoing store openings, while pre-tax margins could remain mid-teens due to re-branding renovation of its outlets," it said in its research note today.
OldTown's pre-tax profit for the first quarter ended June 30, 2014 slipped two per cent to RM15.324 million from RM15.672 million recorded for the same period last year.
The group's revenue increased six per cent to RM97.854 million for the first quarter ended June 30, 2014 compared with RM91.239 million registered in the same period a year ago.
Maybank IB also expected the fast-moving consumer goods (FMCG) division to see steady growth as the group broadened its presence via the appointment of new distributors locally and overseas.
Meanwhile, AllianceDBS Research said OldTown has taken measures to improve its operating structure to tackle cost pressures.
The research house also maintained a 'buy' call on OldTown with a lower target price of RM2.25.
"Restructured distributorships and suppliers and automated production line will put the group on a stronger footing to resume its growth trajectory in financial year 2016," it added.
Hong Leong Investment Bank (HLIB) also revised upwards OldTown's valuation to a 'buy' with a lower target price of RM2.17.
"Despite the slower opening, management continues to view their progress in Malaysia to be on track. 108 franchise-operated outlets have renewed their agreements for another five years with a fee of RM10,000 per outlet," HLIB said.
The group has also incorporated a wholly-owned foreign enterprise in Shenzen, China, allowing OldTown to gain better control and monitoring its product pricing and channel development.
On the other hand, Kenanga Research which maintained an 'underperform' call with an unchanged target price of RM1.90, said it expected Oldtown's FMCG division to get tougher on the back of softer consumer sentiment and competition from both existing and new entrants.
It said the group had to incur extra cost in the form of price discounts in order to preserve market share.
Bernama
Fri Sep 05 2014
![Maybank-Oldtown: research houses maintain 'buy' call on Oldtown Bhd Maybank-Oldtown: research houses maintain 'buy' call on Oldtown Bhd](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/http://img.astroawani.com/2014-07/51404400128_295x200.jpg)
Maybank Investment Bank Research maintained a 'buy' call on OldTown Bhd with an unchanged target price of RM2.40, backed by the extension of its outlets in Indonesia and Australia. - File Photo
Sah suspek anggota polis
Ketua Polis Selangor, Datuk Hussein Omar Khan mengesahkan suspek bunuh Nur Farah Kartini, ialah anggota polis.
Suspek juga yang dipercayai teman lelaki mangsa dan bertugas di Perak.
Suspek juga yang dipercayai teman lelaki mangsa dan bertugas di Perak.
Suspek dibawa ke lokasi kejadian di ladang kelapa sawit
Suspek kes pembunuhan bekas penuntut UPSI Nur Farah Kartini Abdullah dibawa ke lokasi kejadian di ladang kelapa sawit di Kampung Sri Keledang, Hulu Bernam, Selangor.
![Ringgit susut berbanding dolar US pada penutup Ringgit susut berbanding dolar US pada penutup](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-04/41713876066_TBringgitmalaysia.jpg)
Ringgit susut berbanding dolar US pada penutup
Pada 6 petang, ringgit susut lagi kepada 4.6745/6790 berbanding dolar AS daripada 4.6725/6745 semasa ditutup semalam.
Pangkat atau jawatan tidak penting
Polis Diraja Malaysia (PDRM) tidak akan melindungi anggotanya yang ditahan bagi membantu siasatan berhubung kes bunuh bekas penuntut Universiti Pendidikan Sultan Idris (UPSI), Nur Farah Kartini Abdullah.
Ketua Polis Negara, Tan Sri Razarudin Husain berkata, PDRM akan menjalankan siasatan berkaitan kes itu dengan telus dan adil.
Ketua Polis Negara, Tan Sri Razarudin Husain berkata, PDRM akan menjalankan siasatan berkaitan kes itu dengan telus dan adil.
Pemilik sebuah rumah kebajikan didenda RM100
Individu didakwa di dua mahkamah Kuala Lumpur berkait kematian seorang pempengaruh TikTok dikenali Rajeswary atau Esha yang ditemukan meninggal dunia dipercayai menjadi mangsa buli siber, 5 Julai lalu.
TERKINI] Timbalan Ketua Polis Perak dilantik Ketua Polis Perak baharu
Timbalan Ketua Polis Perak, Datuk Azizi Mat Aris dilantik sebagai Ketua Polis Perak yang baharu bermula hari ini.
Azizi, 59 tahun, menggantikan Datuk Seri Mohd Yusri Hassan Basri yang dilantik sebagai Pengarah Jabatan Siasatan dan Penguatkuasaan Trafik (JSPT) Bukit Aman berkuat kuasa pada Isnin.
Azizi, 59 tahun, menggantikan Datuk Seri Mohd Yusri Hassan Basri yang dilantik sebagai Pengarah Jabatan Siasatan dan Penguatkuasaan Trafik (JSPT) Bukit Aman berkuat kuasa pada Isnin.
![Bursa Malaysia ditutup rendah susulan aktiviti pengambilan untung Bursa Malaysia ditutup rendah susulan aktiviti pengambilan untung](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-04/61714480297_tbbursamalaysialog.jpg)
Bursa Malaysia ditutup rendah susulan aktiviti pengambilan untung
Pada 5 petang, Indeks FTSE Bursa Malaysia KLCI (FBM KLCI) susut 3.86 mata atau 0.24 peratus kepada 1,625.96 daripada paras penutup 1,629.82. pada Isnin.
![[TERKINI] Astro penyiar rasmi Sukan Olimpik Paris 2024 [TERKINI] Astro penyiar rasmi Sukan Olimpik Paris 2024](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2023-08/51692062485_TBAstro.jpg)
[TERKINI] Astro penyiar rasmi Sukan Olimpik Paris 2024
Astro dipilih sebagai penyiar rasmi bagi Sukan Olimpik Paris 2024 bermula hujung bulan ini.
AWANI Borneo [16/07/2024] – SUKMA 2024 | Sentiasa berwaspada | Pintu sempadan
AWANI Borneo Selasa, 16 Julai 2024 bersama Fauzi Zin.
- SUKMA 2024 : Nasib acara takraw wanita diketahui Khamis ini.
- Ribut petir diramal di Sabah, Bomba saran penduduk berhati-hati.
- Urusan imigresen di sempadan, Malaysia-Brunei adakan rundingan.
- SUKMA 2024 : Nasib acara takraw wanita diketahui Khamis ini.
- Ribut petir diramal di Sabah, Bomba saran penduduk berhati-hati.
- Urusan imigresen di sempadan, Malaysia-Brunei adakan rundingan.
![Hukuman penjara bapa lakukan serangan seksual ke atas 3 anak perempuan dikurangkan Hukuman penjara bapa lakukan serangan seksual ke atas 3 anak perempuan dikurangkan](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-04/51714453013_courtgavelmahkam.jpg)
Hukuman penjara bapa lakukan serangan seksual ke atas 3 anak perempuan dikurangkan
Dalam penghakimannya, Che Mohd Ruzima berkata perayu gagal membuktikan bahawa Mahkamah Sesyen terkhilaf dalam memutuskan kes itu.
![Perdagangan luar Malaysia meningkat semula pada 2024 - Penganalisis Perdagangan luar Malaysia meningkat semula pada 2024 - Penganalisis](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2022-12/51670133291_Bajet.jpg)
Perdagangan luar Malaysia meningkat semula pada 2024 - Penganalisis
Perdagangan Malaysia memulakan tahun ini dengan momentum positif, isyarat yang baik kepada jangkaan lantunan semula perdagangan luar bagi menyokong pertumbuhan ekonomi yang lebih teguh pada 2024.
![Maybank kekalkan saranan 'beli' ke atas Axiata Maybank kekalkan saranan 'beli' ke atas Axiata](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/http://img.astroawani.com/2016-01/41453442921_MaybankInvestment.jpg)
Maybank kekalkan saranan 'beli' ke atas Axiata
Maybank Investment berkata Celcom akhirnya keluar daripada kemelut IT yang sudah lama tertangguh, dan sejak itu lebih rasional dalam harga produknya.