Stock Name: Eratat
Company Name: ERATAT LIFESTYLE LIMITED
SIAS Research in a Nov 8 research report says: "Eratat 3Q FY11 results were in line with our expectations. Net attributable profit for 9M FY11 came in at RMB138.8 million or 75.7% of our full year forecast. Sales of higher margin apparel products hit RMB193.0 million in 3Q 2011 on 0.96 million pieces sold.
"1H FY12 apparel sales is expected to be 4-5% higher compared to 1H FY11 - excluding any subsequent restocking orders from distributors. In 4Q 2011, Eratat is recognizing revenue from the remaining 54% of its RMB550 million Autumn/Winter order book.
"Eratat's earnings per share for the first nine months of 2011 came up to 6.2 cents. Currently, Eratat trades at just 1.72x its trailing 12M earnings based on a price of 12.5 cents and 474.9 million shares outstanding. Intrinsic value of 32.5 cents. MAINTAIN INCREASE EXPOSURE."
Company Name: ERATAT LIFESTYLE LIMITED
| Research House: SIAS | Price Call: BUY | Target Price: 0.325 |
SIAS Research in a Nov 8 research report says: "Eratat 3Q FY11 results were in line with our expectations. Net attributable profit for 9M FY11 came in at RMB138.8 million or 75.7% of our full year forecast. Sales of higher margin apparel products hit RMB193.0 million in 3Q 2011 on 0.96 million pieces sold.
"1H FY12 apparel sales is expected to be 4-5% higher compared to 1H FY11 - excluding any subsequent restocking orders from distributors. In 4Q 2011, Eratat is recognizing revenue from the remaining 54% of its RMB550 million Autumn/Winter order book.
"Eratat's earnings per share for the first nine months of 2011 came up to 6.2 cents. Currently, Eratat trades at just 1.72x its trailing 12M earnings based on a price of 12.5 cents and 474.9 million shares outstanding. Intrinsic value of 32.5 cents. MAINTAIN INCREASE EXPOSURE."
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