Shinhan Financial Investment on the 3rd pointed out Cheil Worldwide's double-digit operating profit and dividend yield as investment points in the second half of the year. Investment opinion 'buy' and target price remained at 32,000 won.
"We expect total consolidated sales profit in the third quarter to rise 10.0 percent on-year to 306.3 billion won and operating profit to rise 11.7 percent to 66.4 billion won," Shinhan Investment said. "Positive results are expected to exceed market expectations.".
"While all media outlets continue to grow in the second half of the year following the first half, both new media and advertising production are strong," Shinhan Investment said.
"It is also positive that a meaningful influx of non-affiliate advertisers will continue.". "We expect total overseas sales profit to increase by 10.5% to 220 billion won.
The appearance of Europe and North America, which are at their core, are expected to grow 8% and 50%, respectively," Shinhan Investment Corp. said. "The COVID-19 base effect will be added to the execution of digital supplies by major advertisers.
China, Southeast Asia and Latin America are also expected to continue its positive trend in the first half.". In 2021, the total annual consolidated revenue rose 10.8% year-on-year to KRW 1.2 trillion and operating profit rose 21% to KRW 247.9 billion.
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
