Hanwha Investment & Securities evaluated Kyochon F&B as significant in that its operating profit in the third quarter grew despite rising raw material prices.
As a result, the investment opinion remained 'buy' and the target price remained at 30,000 won.
According to Hanwha Investment & Securities, Kyochon F&B recorded sales of 1,307 billion won and operating profit of 15 billion won in the third quarter of this year, up 16.3% and 14.5%, respectively, from the same period last year.
Hanwha Investment & Securities said, "The sales growth rate due to the expansion of existing franchises in the third quarter is about 9 to 10%," and diagnosed, "The distribution sector of new businesses and overseas businesses led the rest of the growth.".
"Kyochon F&B has started supplying beverages and handmade beer in conjunction with Lotte Chilsung and will supply various products through its online malls and other distribution networks in the future," Hanwha Investment & Securities said. "It is positive that we are carrying out a new business strategy based on the franchise headquarters business.".
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
