KTB Investment & Securities maintained its investment opinion of Kolmar Korea, saying that both its main business and subsidiaries are continuing to perform poorly, and lowered its target price from 70,000 won to 53,000 won.
According to KTB Investment & Securities, Kolmar Korea's sales and operating profit in the third quarter rose 18% year-on-year to KRW 376 billion and 32% to KRW 12.8 billion, respectively, and cosmetics fell short of expectations, mainly in Korea.
KTB Investment & Securities explained that HK inno.N, a major subsidiary of Kolmar Korea, recorded poor performance as one-off costs (7.5 billion won) related to listing were reflected.
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
저작권자 © 인포스탁데일리 무단전재 및 재배포 금지
