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    601888   CNE100000G29

CHINA TOURISM GROUP DUTY FREE CORPORATION LIMITED

(601888)
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China lnternational Travel Service : Tourism Group Duty Free's Third-Quarter Net Profit More Than Doubled

10/12/2020 | 05:09am EDT

By Martin Mou

China Tourism Group Duty Free Corp. said Monday that its third-quarter net profit more than doubled from a year earlier, thanks to strong sales growth for duty-free goods in the tourist hotpot of Hainan province.

Net profit jumped to 2.23 billion yuan ($333.1 million), up 142% from a year earlier, while revenue grew 39% to CNY15.83 billion, the company said in an announcement of preliminary results.

Sharply higher sales of luxury bags, watches and jewelry, which have high gross profit margins, helped boost the company's third-quarter financial results, it said.

For the first nine months of the year, however, the company's net profit plunged 25% from the prior year to CNY3.16 billion, while revenue slipped 2.8%, due to the Covid-19 pandemic's impact, China Tourism Group Duty Free Corp. said.

China eased restrictions on sales of duty-free goods in the southern tropical island province of Hainan in July, which has provided a huge boost to China Tourism Group Duty Free Corp., the country's top duty-free shop operator.

Write to Martin Mou at martin.mou@wsj.com

(END) Dow Jones Newswires

10-12-20 0508ET

Stocks mentioned in the article
ChangeLast1st jan.
CHINA TOURISM GROUP DUTY FREE CORPORATION LIMITED -1.52% 277.68 End-of-day quote.-1.69%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.21% 6.48425 Delayed Quote.-0.38%
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More news
Financials
Sales 2021 80 779 M 12 471 M 12 471 M
Net income 2021 11 417 M 1 763 M 1 763 M
Net cash 2021 21 497 M 3 319 M 3 319 M
P/E ratio 2021 47,9x
Yield 2021 0,64%
Capitalization 542 B 83 789 M 83 702 M
EV / Sales 2021 6,45x
EV / Sales 2022 4,51x
Nbr of Employees 14 217
Free-Float 43,6%
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Technical analysis trends CHINA TOURISM GROUP DUTY FREE CORPORATION LIMITED
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 27
Last Close Price 277,68 CNY
Average target price 377,13 CNY
Spread / Average Target 35,8%
EPS Revisions
Managers and Directors
Guo Qiang Chen General Manager & Director
Wen Long Chen Chief Financial Officer
Hui Peng Chairman
Yan Liu Independent Director
Bin Wang Independent Director
Sector and Competitors