[EQUITIES] Top drug makers to miss analysts Q2 expectations on growing R&D costs

[THE INVESTOR] South Korea’s major pharmaceutical companies are likely to post weaker-than-expected earnings for the second quarter of 2016, a local securities firm Shinhan Investment said on July 18.“Combined earnings of 10 major drug manufactures will stay around last year’s level at 115.8 billion won (US$119 million), missing the market expectation of 128 billion won,” Bae Ki-dal, an analyst at Shinhan Investment. 123rfThe analyst attributed the slow growth to declining technology exports and

July 18, 2016

Casamia plans to list on KOSPI

[THE INVESTOR] Upscale home furnishing store chain Casamia plans to list its shares on Seoul’s main bourse KOSPI in August, the brand’s spokesperson said on July 18.The retail firm is expected to offer 3 million shares to the public with the IPO price ranging between 20,000 won (US$17.60) to 24,000 won per share. The size of the total offering will be in the range of 60 billion won to 72 billion won. A Casamia store at COEX, SeoulHanwha Investment & Securities will be the lead underwriter for th

July 18, 2016

[EQUITIES] Solid footing in China to bolster AmorePacific’s Q2 earnings

[THE INVESTOR] AmorePacific, South Korea’s largest cosmetics maker, is expected to log strong second-quarter earnings thanks to its solid performance in China, a local securities firm BNK Securities said on July 18. On a consolidated basis, sales for the April-June quarter were estimated at 1.43 trillion won (US$1.26 billion), up 20 percent on-year while its operating profit will expand by 18.9 percent to 247.5 billion won, according to Lee Seung-eun, an analyst at BNK Securities. Three brands u

July 18, 2016

[EQUITIES] Hyundai Glovis 2016 earnings estimates lowered by analyst

[THE INVESTOR] HMC Investment Securities lowered its annual sales forecast for Hyundai Glovis and cut its target price on the stock from 280,000 won (US$246.31) to 260,000 won on July 18. “We cut the company’s revenue estimate due to sluggish exports of cars manufactured here,” said Kang Dong-jin, an analyst at HMC Investment Securities. Automobiles are lined up to be loaded abroad a transport ship operated by Hyundai Glovis in Pyongtaek./ Hyundai GlovisThe securities company lowered its sales e

July 18, 2016

[EQUITIES]Low real estate transactions dent Hanssem’s Q2 earnings

[THE INVESTOR] Hanssem, South Korea’ s No. 1 furniture maker, failed to meet profit and revenue expectations in the second quarter, a local brokerage firm Mirae Asset Securities said on July 18. “Hanssem posted 435.1 billion won (US$382.81 million) in sales and 30.2 billion won in operation profit which lagged far behind market expectations,” said Lee Gwang-soo, an analyst at Mirae Asset Securities. The biggest reason for the lackluster performance is dropped sales in kitchen interior items whic

July 18, 2016

[EQUITIES] Shinhan Investment forecasts Daewoong Pharmaceutical to post earnings decline in Q2

[THE INVESTOR] Shinhan Investment expects Daewoong Pharmaceutical’s second quarter operating profit to fall below market estimates, with the figure reaching 9.2 billion won (US$ ) that reflects a 43.7 percent downturn on-year.Sales are expected to decline 4.2 percent to 194 billion won, mostly due to increased expenses, including those involved with research and development, which are expected to reach 26.3 billion won. The figure reflects a 2 billion won increase, on-year, Shinhan said.  (123rf

July 15, 2016

[EQUITIES] NH Investment cuts Hyundai Glovis earnings target for the year

[THE INVESTOR] NH Investment & Securities on July 15 lowered its earnings target on Hyundai Glovis, citing slowing exports of its parent company, Hyundai Motor.NH cut the logistic firm’s sales target for this year and 2017 by 1.5 percent and 3.5 percent, respectively.But for second-quarter earnings, NH said the firm would maintain solid growth, with operating profit rising 12.7 percent to 178.8 billion (US$ 155.93 million) and sales growing 5.3 percent to 3.89 trillion won. By Kim Ji-hyun (jemmi

July 15, 2016

[EQUITIES] Mirae Asset Daewoo cuts EPS on Kakao

[THE INVESTOR] Mirae Asset Daewoo Securities on July 15 cut its earnings per share ratio for this year and 2017 by 17.6 percent and 17.7 percent, respectively. It said this was mainly because Kakao’s latest online-to-offline business such as the Kakao designated driver service has yet to be reflected in stock prices. At the same time, expenses are expected to rise throughout the second and third quarters, further weighing on the messaging service’s profit. The brokerage added that it would have

July 15, 2016