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瑞银:预计中国中免(01880)次季度利润跌20%或逊市场预期

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瑞银发布报告称,预测中国中免(01880)今年第二季机场业务可能贡献20亿至30亿元人民币的免税品销售额,但预期旗下上海日上免税店的线上销售额可能取得同比跌幅。

因此现时该行预测第二季集团收入将达115亿至125亿元人民币,机场业务拖累下次季整体毛利率预期同比持平至略有下降,令季度纯利料同比下跌17%至25%,达到11.7亿至13亿元人民币,或逊于市场预期。

瑞银表示,虽然中免的免税品具有一定价格优势,但目前国内市场疲软,消费情绪低迷预期会继续产生负面影响,同时第三方渠道的竞争和海外销售分流等因素亦带来影响。

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