Data:2009-12-12 2:34
Category: Money tips Release Date: 2006-07-10
Huangshan Tourism (600,054 market, information, reviews, search) in 2006 achieved revenues of 817 million yuan main net profit of 1.39 billion yuan, respectively, year on year growth of 18.5%, 101.5%. To achieve earnings per share 0.31 yuan, in line with expectations. There are two main reasons: First, main profit growth. Second, investment income increased significantly.
Affected by price increases in June 2005 and in 2006 the company continued to increase marketing efforts and allows visitors to maintain a steady growth and other factors, operating income in 2006 rose garden ticket by 24.1%; passenger ropeway operating income grew 11.8%, and 2005 Year over year growth rate increased by 4.4 percentage points. At the same time, the company has further increased the cost control, so that an increase in gross profit margin from a year earlier. With the next three highways linking one after another, Huangshan transportation conditions will significantly improve, the future size of its tourists will show a rapid growth momentum, growth is expected to 07,08 years, tourist scenic spots, respectively 9.0% and 11.0%, and will be garden tickets and other major driving force for business growth. With the rapid growth of tourists coming hotel rates and occupancy rates remain high. In addition, the merger of the two taxes are expected to January 1, 2008 implemented by the estimation, the merger of the two taxes will increase the performance of Huangshan Tourism in 2008 is about 12%.
Shenyin analyst Chen Haiming maintain the 07,08-year earnings per share were 0.37 yuan and 0.50 yuan in profit forecasts, the current corresponding to the dynamic price-earnings ratio of 39 times and 29 times. Taking into account the future of Huangshan Tourism still has strong growth and industry leading enterprises in the scenic status, should enjoy a certain degree of valuation premium, to maintain "overweight" rating.
