Top Story : Parkson – Encouraging growth Outperform
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- We understand that 1HCY10 same-store sales (SSS) growth for Malaysia was at a phenomenal 17%, while the momentum is expected to carry on to the 2H. Together with 1HFY10 SSS growth of 7%, this will bring full-year FY06/10 SSS growth to approximately 11-12%.
- Parkson opened 3 stores in FY06/10, which was above our assumption of 2 stores. We understand that management plans 2 stores in FY06/11, and 1 store in FY06/12, in line with our forecasts.
RHB Equity 360° : (Parkson, KLK, AirAsia, Tan Chong, APM, Carlsberg, Hunza; Technical: KLK, AFG) - 19/08/2010
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